Credit Suisse Saudi Backer Sheds $7 Billion Over Stake Deal - bloomberg

Credit Suisse plans rights issue and share sale to investors CS move follows succession of big losses and management chaos Investors have wiped about $7 billion off Saudi National Bank’s market value amid growing concern over the lender’s plans to purchase a stake in Credit Suisse Group AG. The Saudi lender, which is 37% owned by the kingdom’s sovereign wealth fund, is set to become one of the Swiss bank’s biggest