Deutsche Bank shares slide 5 percent on reports of possible stock issue worth $11.4 billion
By APFriday, September 10, 2010
Stock issue speculation hits Deutsche Bank shares
BERLIN — Shares of Deutsche Bank AG dropped nearly 5 percent on reports that Germany’s biggest lender is considering a stock issue worth as much as euro9 billion ($11.4 billion).
Deutsche Bank shares fell 4.6 percent to euro47.70 ($60.50) in Frankfurt. It was the worst performer on the DAX index of blue-chip stocks, which slipped 0.1 percent overall.
The Financial Times reported that Deutsche Bank is planning a share issue to raise cash that could be used at least in part to increase its stake in retail bank Deutsche Postbank AG. It currently holds nearly 30 percent of Postbank.
Deutsche Bank declined to comment.
Postbank shares gained 4.8 percent Friday to euro27.04.
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