Credit Suisse Shareholders Approve CHF4 Billion Capital Increase

By Brian Blackstone Features Dow Jones Newswires

Credit Suisse Group AG (CS) shareholders on Thursday overwhelmingly approved a plan to sell 4 billion Swiss francs ($4.1 billion) of new shares to raise capital, allowing the banking giant to keep full control of its profitable Swiss unit.

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Credit Suisse announced the capital hike on April 26, shelving its longstanding plans to partially float its Swiss banking unit through an initial public offering.

The bank previously raised 6 billion francs in 2015.

-Write to Brian Blackstone at brian.blackstone@wsj.com

(END) Dow Jones Newswires

May 18, 2017 06:20 ET (10:20 GMT)