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Imagine being Saudi Arabia's National Bank >Saudi Arabia's National Bank, which acquired 9.88% of Credit Suisse shares last year, said it would not buy more sh
by ar9av 4y ago
Imagine being Saudi Arabia's National Bank
>Saudi Arabia's National Bank, which acquired 9.88% of Credit Suisse shares last year, said it would not buy more shares on regulatory grounds.
>"We cannot because we would go above 10%. It’s a regulatory issue," Saudi National Bank chairman, Ammar Al Khudairy said on the sidelines of a conference in the Saudi capital, Riyadh, on Wednesday.
>Al Khudairy said the value realisation of that investment will unfold as the Swiss bank proves they are doing the turnaround.
>"We are happy with the plan, the transformation plan that they have put forward. It is a very strong bank," he said.
>"I don't think they will need extra money; if you look at their ratios, they're fine. And they operate under a strong regulatory regime in Switzerland and in other countries," he told the Reuters news agency.
His comment will go into the history books for shutting up when your money is on the line.
- belter 4y agoNext... Luxembourg AAA Rating...
- mcintyre1994 4y agoLooks like they paid about $1.5 billion for that stake last year if anyone's interested! https://www.cnbc.com/2022/10/31/credit-suisse-shares-are-a-steal-say-new-saudi-backers-snb.html https://www.cnbc.com/2022/10/31/credit-suisse-shares-are-a-s...
- somedude895 4y ago>>Saudi Arabia's National Bank, which acquired 9.88% of Credit Suisse shares last year, said it would not buy more shares on regulatory grounds. >His comment will go into the history books for shutting up when your money is on the line. He didn't just say "for regulatory reasons." He started with "Absolutely not" and it almost sounds like he added the regulatory part because he realized he screwed up: https://youtu.be/q0So9sqLLfY?t=127 https://youtu.be/q0So9sqLLfY?t=127
- Alifatisk 4y agoWhat’s the reason of acquiring 9,88% instead of 10%?
- safeimp 4y agohttps://www.investopedia.com/terms/p/principal-shareholder.asp https://www.investopedia.com/terms/p/principal-shareholder.a... Pasting the key takeaways portion: > - A principal shareholder is a person or entity that owns 10% or more of a company's voting shares. > - Principal shareholders have significant influence over a company, allowing them to vote on appointing the (CEO) and board of directors. > - A principal shareholder is different from a majority shareholder, which is a person or entity that owns 50% or more of a company's shares. Principal shareholders are subject to special Securities and Exchange > - Commission (SEC) filing rules that pertain to insider trading.