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Deutsche Bank says completes 8 bln eur capital increase
April 7, 2017 / 9:52 AM / 7 months ago

Deutsche Bank says completes 8 bln eur capital increase

FRANKFURT, April 7 (Reuters) - Deutsche Bank has completed an 8 billion euro ($8.5 billion) capital increase, giving it scope to make fresh investments as well as paying hefty legal penalties while keeping investor concerns about undercapitalisation at bay.

In the capital hike, its fourth since 2010 and previously described by Chief Executive John Cryan as a last resort, the lender sold 687.5 million shares for 11.65 euros per share, Germany’s flagship lender said on Friday.

Take-up was 98.9 per cent of the subscription rights. The remaining new shares that were not subscribed will be sold in the market. (Reporting by Arno Schuetze; Editing by Georgina Prodhan)

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