Deutsche Bank is looking to “conducting preparatory steps” for a potential $8.5 billion capital raise.
Here’s the statement from the bank:
Deutsche Bank confirms that it is conducting preparatory steps for a potential capital raise of approximately EUR 8 billion and several potential strategic measures. These include retaining Postbank and integrating it with the Bank’s existing German retail and commercial business and a sale of a minority stake in Deutsche Asset Management via an initial public offering. Implementation is subject to market conditions and approval by the Management Board and the Supervisory Board. At this stage, no decision to proceed has been made.
More to follow