Issuer: Commerzbank
Size: e760 million
Bookrunners: Commerzbank Securities, Morgan Stanley
Date: November 12 2003
| Commerzbank share price ( € ) |
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| Source: Reuters |
By simultaneously announcing a disastrous set of results and successfully raising substantial straight equity capital on November 12, Commerzbank pulled off a trick that would barely have been conceivable six months ago for almost any issuer, let alone a German bank.
The results included a €2.05 billion pre-tax loss for the first nine months of 2003 and an unexpected €2.3
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