Credit Suisse raises 2.24 billion Swiss francs in second part of capital hike

A Christmas tree is decorated in front of the headquarters of Swiss bank Credit Suisse in Zurich, Switzerland November 23, 2022. REUTERS/Arnd Wiegmann

ZURICH, Dec 8 (Reuters) - Credit Suisse (CSGN.S) on Thursday announced the final result of its 4 billion Swiss franc ($4.25 billion) capital raise, saying 98.2% of shareholder rights to buy stock at a discount had been taken up in the second part of the fundraising.

Switzerland's second biggest bank said subscription rights for 872.9 million new shares had been used in the capital hike, intended to fund an overhaul of the scandal-plagued lender.

This meant 2.24 billion francs had been raised by Credit Suisse, as expected, in addition to the 1.8 billion francs raised from an earlier placing of stock with a group of institutional investors led by Saudi National Bank.

($1 = 0.9406 Swiss francs)

Reporting by John Revill; Editing by Kirsten Donovan

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