Deutsche Bank drops around 9%
Deutsche Bank fell around 9% in the markets on Tuesday morning as the trade of subscription rights of its new shares begins in Germany and the United States.
Earlier, the bank announced plans to raise €8 billion by issuing 687.5 million new common shares. In a statement released over the weekend, Deutsche Bank stated that the subscription price will be €11.65 per share issued.
The subscription rights will be traded in Germany until April 4 and on the New York Stock Exchange until March 31.
Deutsche Bank dropped 8.72% to €15.695 per share in the markets at 9:07 am CET. The stock’s daily low was €15.42 per share.
Last Friday, the bank’s shares ended the week at a price of €17.195 per share.