Lehman to raise $3 billion capital
By Ocean on Mar 31, 2008 in Uncategorized
NEW YORK (Reuters) - Lehman Brothers Holdings Inc, an investment bank beset by rumors of not having enough funding, said it plans to raise $3 billion of capital.
Lehman’s shares fell nearly 5 percent in aftermarket trading to $35.85, after the planned offering of convertible preferred shares was announced.
Lehman said in a statement that it has received significant interest from several key institutional investors in the deal.
Lehman has been one of the few major U.S. investment banks to avoid raising additional capital. The other one is Goldman Sachs Group Inc. But Merrill Lynch & Co Inc and Morgan Stanley have each raised billions of dollars of capital in recent months.
http://www.reuters.com/article/newsOne/idUSWNAS641920080331



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