UBS AG, the Swiss bank who is one of the world’s worst affected major banks in the global financial crisis, announced yesterday that it is expecting a 2nd quarter net loss and is planning to raise about US$3.48 billion of equity capital. UBS stated that it is offering about 293.3 million new shares at a price of 13.00 Swiss francs per share. UBS’s efforts to strengthen its capital base is welcomed by the Swiss government.
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