Chronicles Of Depression 2.0: #119

Lehman seeking overseas capital, eyes Korea: report

SEOUL (Reuters) – Lehman Brothers Holdings Inc is looking to raise capital overseas and has approached at least one investor in South Korea, the Wall Street Journal reported on Wednesday.

Lehman shares fell another 3.6 percent before the bell on Wednesday in electronic trading ahead of the New York Stock Exchange open. Over the past three days, the stock has tumbled 18 percent, chopping nearly $4 billion of market value from the company.

According to the newspaper, options for Lehman in Korea include the state-run Korea Development Bank and Woori Financial Group.

Emphasis added by me.

Dig it:

Lehman ended Tuesday’s session with a market capitalization just shy of $17 billion, a little over a third of its peak value of more than $45 billion reached in February 2007.

Emphasis added by me.

Two thirds of its value gone. Poof!

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Explore posts in the same categories: C.O.A.T. - Money, C.O.A.T. - Other, Depression 2.0

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