Lehman Raises US$4bn

April 2008 | Corporate Financing News Alert

Shares in Lehman Brothers rallied strongly as news emerged that the investment bank had successfully raised US$4bn in fresh capital to shore up its balance sheet. The surge in shares will have been bad news for short sellers in Lehman, who were banking on growing sentiment that the 148-year-old firm's sub-prime exposure would turn it into the next Bear Stearns.

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