Deutsche Bank AG said April 7 that it raised gross proceeds of approximately €8.0 billion following the completion of its share sale.
The number of no-par-value shares of the lender has increased by 687.5 million to 2.07 billion from 1.38 billion through the public offering of new shares via subscription rights, 98.9% of which were exercised. The subscription price was €11.65 per share.
The new shares have already been included in the existing listing of Deutsche Bank shares on the German stock exchanges and on the New York Stock Exchange. The remaining new shares that were not subscribed will be sold to the market, the lender said.
Had the capital increase been completed at the end of 2016, the bank's common equity Tier 1 ratio at the time would have been 14.1% on a pro forma CRD4 fully loaded basis instead of 11.8%, while the pro forma CRD4 fully loaded leverage ratio at year-end 2016 would have been 4.1% instead of 3.5%, Deutsche Bank noted.
Underwriters for the transaction include Credit Suisse, Barclays, Goldman Sachs, BNP Paribas, Commerzbank, HSBC, Morgan Stanley and UniCredit. Deutsche Bank served as global coordinator and joint book runner.