Credit Suisse Reports Good 1Q, Proposes CHF 4 Billion Rights Offering
Credit Suisse has announced its proposal of a rights offering to existing shareholders, to be approved at a shareholder meeting in May this year. The group expects to collect around CHF 4 billion, offering up to 380 million shares, excluding additional shares as a result of the scrip dividend program, at CHF 10.80 apiece. Business results have been satisfactory in the first quarter as the company continues its restructuring efforts and winds down its run-off assets. We plan to lower our CHF 14/$...Credit Suisse is a financial services provider based in Switzerland. Co. is active as an integrated bank. Co. operates through two global divisions, Private Banking and Corporate & Institutional Banking. Co. offers comprehensive advice and a broad range of financial solutions to private, corporate and institutional clients primarily domiciled in Switzerland. Co. maintains operations in three regionally focused divisions: Swiss Universal Bank, Asia Pacific and International Wealth Management serving Western Europe, Central and Eastern Europe, Latin America and Africa.
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