Deutsche Bank to raise $8.5B to help restructure firm

Deutsche Bank is looking to raise $8.5 Bn in capital by issuing 687.5 million new shares, later this month. Management originally tried to avoid issuing new shares to prevent further dilution of the existing shareholders’ ownership.

They tried to generate capital by putting PostBank up for sale, however, no buyers came forward. PostBank will now be integrated into the Deutsche retail business and the bank will issue new shares to raise capital. This comes on the heels of fines levied against the bank for misconduct leading up to the 2008 financial crisis, and two consecutive years of sizeable losses.

Link: http://caribbeanbusiness.com/deutsche-bank-to-raise-8-5b-to-help-restructure-firm/

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