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Qatar remains the largest shareholder in Credit Suisse

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Although it temporarily reduced its stake below 5% due to buying positions, Qatari sovereign wealth fund remains the largest shareholder of Credit Suisse.

Credit Suisse
Qatar’s sovereign wealth fund is still the largest shareholder in Credit Suisse, despite temporarily reducing its stake below 5%.

It will again exceed this mark this fall, holding more than 30 million new shares of the bank.

Stock exchange operator SIX reported Friday that the direct stake of investment vehicle Qatar Investment Authority (QIA) in Switzerland’s number two bank fell to 4.837%. SEC, the American stock exchange regulator, reported 4.8% the day before.

Even with the purchase positions, the sovereign wealth fund of the Gulf state holds 6.005% of the bank. In the SIX note, it is stated that it has subscribed in full to the convertible bonds issued by Credit Suisse in the spring. By the end of the year, QIA will have nearly 31 million additional shares in the bank, increasing its stake by 1.168%.

Likewise, Blackrock
By November, there will be 203 million outstanding shares, representing an 8% dilution. After the debacles of Archegos and Greensill, Credit Suisse has taken these measures to strengthen its capital position.

Qatar’s sovereign wealth fund remains the largest shareholder with a 6.005% stake in the bank, followed by Blackrock (5.46%), which also subscribed for the convertible bonds and will receive 15.2 million new Credit Suisse shares this fall.

During the financial crisis of 2008, QIA took a stake of just under 10% in the bank, but then reduced its holdings.

For MetaNews.

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Jonathan Hobbs is an Australian investor and author that trades on a variety of asset classes, including currencies, equities, and commodities. Jonathan’s experience as a macro trader leverages his unique writing style to combine important elements, such as technical analysis and news. The other elements that he brings into his unique writing styles are foundation analysis aimed at rational equilibrium values, evaluating the sizes and motivations of buyers and sellers, as well as identifying the needs of the buyers and sellers in the individual markets. Jonathan is committed to quality writing for new traders as well as veterans.

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