Ambac CEO says may not need to raise more funds

NEW YORK (Reuters) - Ambac Financial Group Inc (ABK.N) CEO Michael Callen said on Friday the troubled bond insurer should not need to return to the market any time soon, after having raised $1.5 billion through the sale of shares and convertible securities.

Asked if Ambac would be seeking more capital, Callen said on CNBC, "Some day, perhaps. If our business is successful. No time soon."

Ambac sold $1.25 billion of common stock at $6.75 a share, nearly tripling the number of its shares outstanding.

(Reporting by Christopher Kaufman; editing by John Wallace)