Credit Suisse shareholders waved through the proposal by the bank’s executive to issue new shares in a bid to raise as much as 4 billion Swiss francs.
The company’s plan received the backing of 99.4 percent at an extraordinary general meeting today. Credit Suisse (CS) will issue as many as 404.5 million new shares and expects to raise about 4 billion Swiss francs through the sale, according to CS Chairman Urs Rohner, said Swiss news agency «AWP».
The EGM was attended by 424 shareholders and no shareholder representative had opposed the plan by the management. CS had scrapped a partial IPO of its Swiss unit in favor of the rights issue.
The board of CS will set the exact number of shares to be issued on May 19.
