Credit Suisse Shareholders Approve CHF4 Billion Capital Increase
May 18 2017 - 6:35AM
Dow Jones News
By Brian Blackstone
ZURICH--Credit Suisse Group AG (CS) shareholders on Thursday
overwhelmingly approved a plan to sell 4 billion Swiss francs ($4.1
billion) of new shares to raise capital, allowing the banking giant
to keep full control of its profitable Swiss unit.
Credit Suisse announced the capital hike on April 26, shelving
its longstanding plans to partially float its Swiss banking unit
through an initial public offering.
The bank previously raised 6 billion francs in 2015.
-Write to Brian Blackstone at brian.blackstone@wsj.com
(END) Dow Jones Newswires
May 18, 2017 06:20 ET (10:20 GMT)
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