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Stock issue speculation hits Deutsche Bank shares

Stock issue speculation hits Deutsche Bank shares

Shares of Deutsche Bank AG have dropped sharply on reports that Germany's biggest lender is considering a stock issue worth as much as (EURO)9 billion ($11.4 billion).
Deutsche Bank shares were down 5 percent at (EURO)47.50 ($60.37) in Friday morning Frankfurt trading. It was easily the worst performer on the DAX index of blue-chip stocks, which slipped 0.4 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 were up 5 percent Friday at (EURO)27.11.


Updated : 2021-05-16 12:05 GMT+08:00