UBS, the European bank worst hit by the credit crunch, could be preparing for a $16.1 billion capital injection to maintain its capital position, and prevent ratings downgrades. |
Forbes - Mar 31, 2008 |
UBS, the European bank worst hit by the credit crunch, could be preparing for a $16.1 billion capital injection to maintain its capital position, and prevent ratings downgrades.
Shares in UBS tumbled 3.9%, or 1.14 Swiss francs ($1.15), to 27.84 Swiss francs ($28.03), on Monday morning in Zurich, after a Swiss newspaper said the bank may ask shareholders to approve a capital hike of 16 billion Swiss francs ($16.1 billion).
”If UBS wants to keep its capital ratio at 12.0%, the group needs 16 billion Swiss francs ($16.1 billion),” Switzerland's Sonntag newspaper said Monday, quoting anonymous sources.
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- Posted: 2008-03-31 08:45:14
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