Goldman share issue raises $5 billion
The share price responds positively to the dilutive sale, raising the question of what the outcome may have been if it û and other recent confidence-building measures û had come much earlier?
The news last night that Goldman Sachs had raised $5 billion from the public share offering it announced after the close of US trading on Tuesday shows investors are confident that this is a Wall Street institution that will survive the current crisis. Goldman sold 40.65 million new shares at $123 apiece, which translates into a discount of only 1.6% to TuesdayÆs closing price. Even so, it was able to raise twice the amount flagged in the initial announcement.
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