First Republic is seeking to raise money from other banks or private-equity firms by selling new shares, the New York Times reported late Friday, citing people with knowledge of the discussions.
First Republic stock
sank 33% on Friday, and the shares were down another 6% in the extended session. The bank, which late Thursday received a $30 billion cash infusion from 11 major U.S. banks, has disclosed higher borrowing costs and suspended its dividend.
Rose is a name that comes with an epic description for technology geek. She loves decoding things that are new in the technological advancement sector. She has been contributing interesting news from technology section.