Stock Sales Are Vanishing as Credit Suisse Fuels Contagion Fears
- Secondary offering proceeds shrink by 92% from one week ago
- Debt offerings slow alongside stock sales, cornering issuers
A Credit Suisse bank branch in Geneva, Switzerland.
Photographer: Jose Cendon/BloombergThis article is for subscribers only.
Equity fundraising slammed to a halt in the wake of Silicon Valley Bank’s collapse, and now the turmoil at Credit Suisse Group AG is dashing hopes for a recovery anytime soon as investors flee anything that smells like risk.
Just one stock offering by a US-listed company has priced since Friday, according to data compiled by Bloomberg that excludes deals worth less than $10 million. And there have been no offerings brought by selling stockholders in that span. That’s a jarring switch from recent weeks, when companies and their largest investors were pricing equity offerings at the fastest pace in a year.