SVB Financial Group Inc is urgently exploring all available options, including a sale of the technology-focused bank, after its bid to raise money through a stock sale failed in the wake of some of its clients withdrawing deposits, according to people familiar with the matter.
SVB logo and decreasing stock graph are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/is urgently exploring all available options, including a sale of the technology-focused bank, after its bid to raise money through a stock sale failed in the wake of some of its clients withdrawing deposits, according to people familiar with the matter.
SVB is talking to other financial institutions and working with advisers as it reviews how it can secure funding, one of the sources said. The sources requested anonymity because the matter is confidential. SVB did not immediately respond to a request for comment.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Silicon Valley Bank scrambles to sell itself after failing to raise capital: report“Large financial institutions” are exploring a potential acquisition of SVB Financial.
Read more »
SVB Financial stock slides 42% premarket as fears of a potential run on the bank continueSVB Financial Group the parent of Silicon Valley Bank, saw its stock tumble more than 42% in premarket trade Friday, in a continued response to reports late...
Read more »
Analysts see a buying opportunity in this financial stock in particular amid SVB-fueled sell-offShares of this financial services name dropped nearly 13% on Thursday. Analysts believe the sell-off presents an attractive entry point.
Read more »
Stocks making the biggest premarket moves: Silvergate, Etsy, SVB Financial, Uber and moreStocks making the biggest premarket moves: Silvergate, Etsy, SVB Financial, Uber & more
Read more »
Bank carnage drags stocks lower as SVB Financial shares plungeA brutal day for banks drags down stocks on Thursday.
Read more »
Stocks making the biggest moves after hours: SVB Financial, Oracle, Gap and moreThese are the stocks posting the largest moves in postmarket trading.
Read more »