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Credit Suisse Is Offering Blocks Of Archegos-linked Stocks

by finance.yahoo.com posted 5months ago 27 views
(Bloomberg) -- Credit Suisse Group AG is selling large blocks of shares tied to the Archegos Capital Management blowup, according to terms reviewed by Bloomberg. The stock offerings -- which included Discovery Inc. and Iqiyi Inc. -- are worth about $2.1 billion, based on Tuesday’s closing prices. A torrent of similar transactions has already erased about $194 billion in market value as banks from New York to Zurich and Tokyo unwound leveraged equity bets by Bill Hwang’s fund.

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