Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Credit Suisse Sells Aberdeen Stake Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, July 05, 2012

Credit Suisse Sells Aberdeen Stake

News summary by MFWire's editors

The dip in the price of Aberdeen Asset Management [profile] shares on Tuesday was the artifact of a large stakeholder cashing out. So reports both Reuters and the Telegraph.

Credit Suisse sold a seven percent stake in Aberdeen -- 80.4 million shares -- and raised roughly $314 million (200 million pounds). The sale was reportedly part of an effort at the Swiss bank to raise capital and not a reflection on Aberdeen's prospects.

Last month, the Swiss National Bank told Credit Suisse's leaders that the bank needed to build its capital base. The message came after a Moody's debt downgrade.

Aberdeen shares dropped 9.7 percent to 255p after the move. Credit Suisse bought a 25 percent stake in Aberdeen in 2009 when the shares changed hands at 127p.

According to a source who knew about the move, the shares were sold between 245p to 255p, and were sold within 15 minutes "reflecting strong demand from investors". 

Edited by: HFD


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2018: Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2018
40 Wall Street | 28th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use