Deutsche Bank announced today it is due to press go on its €8bn (£6.9bn) rights issue on Tuesday, as the German lender tries to shore up its capital.
The Frankfurt-headquartered lender announced a slew of plans to improve its capital position earlier this month, including, in addition to the rights issue, holding onto its Postbank division, streamlining its business model and listing a stake in Deutsche Asset Management.
The bank has said the issue of 687.5m new shares will run from 21 March to 6 April, with investors being offered a one new share for two existing shares deal on their current shares so not to dilute their stake. The subscription price for the shares has been set at €11.65.
