Credit Suisse set to launch a substantial capital raising: FT

[October 08, 2015] ZURICH (Reuters) - Swiss bank Credit Suisse is preparing to launch a "substantial capital raising" when it unveils its strategy under new Chief Executive Tidjane Thiam on Oct. 21, the Financial Times reported on Thursday, citing people briefed on the plan.

The FT report said the people did not specify an amount for the cash call but pointed to a Goldman Sachs poll concluding that 91 percent of investors expect Credit Suisse to raise more than 5 billion Swiss francs ($5.15 billion) in new equity.

A spokeswoman for Credit Suisse declined to comment on the report. Credit Suisse shares extended losses on the news to trade down 4.5 percent by 1230 GMT.

($1 = 0.9715 Swiss francs)

(Reporting by Joshua Franklin; Editing by Michael Shields)
 

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