Credit Suisse issues 462 million shares to existing investors in $4 billion capital hike

ZURICH (Reuters) – Credit Suisse has issued 462 million new shares to existing investors at 3.82 Swiss francs ($4.05) per share, the bank said on Thursday, outlining details of its 4 billion franc capital hike.

The capital increase, which was approved by investors on Wednesday, is intended to fund the embattled bank’s turnaround plan as it recovers from a series of scandals and losses.

($1 = 0.9431 Swiss francs)

(Reporting by Noele Illien; Editing by John Revill)

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