According to the SIX Swiss Exchange, Saudi Arabia's Olayan Group's stake in Credit Suisse has fallen by over 25% since the end of 2014; Olayan owns 4.95%, whereas previously it held 6.7%. This comes as the bank goes through a huge overhaul, which includes a private placement with 37 investors, who provided the lender with $1 as part of a capital increase strategy; if Olayan did not participate, then its holdings as a percentage of total ownership would have fallen, say analysts.
According to the SIX Swiss Exchange, Saudi Arabia's Olayan Group's stake in Credit Suisse has fallen by over 25% since the end of 2014; Olayan owns 4.95%, whereas previously it held 6.7%. This comes as the bank goes through a huge overhaul, which includes a private placement with 37 investors, who provided the lender with $1.32bn as part of a capital increase strategy; if Olayan did not participate, then its holdings as a percentage of total ownership would have fallen, say analysts.