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News in english 6. sep. 2010 KL. 10.16

Amagerbanken stock jumps

Investors seem to have faith in Amagerbanken.

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Investors seem to be certain that Amagerbanken will manage to get through its crisis – the bank’s stock jumped over 100 percent this morning and is now at DKK 16.

Advances came Monday after the bank announced on Friday that the Danish state has waived its option to convert a billion-kroner loan to stock. The announcement gave the bank’s stock a 37 percent boost on Friday.

At the same time an Økonomisk Ugebrev analysis deems it 99 percent certain that the bank will be able to raise the DKK 750 million in capital required by the state.

The sale of new stock in Amagerbanken runs until Tuesday Sept. 7. The bank’s main shareholder Karsten Ree has not yet said whether he will purchase new stock.

Edited by Julian Isherwood

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You are currently viewing the English section of Politiken.dk. The section provides the main stories of the day from Monday to Friday and is edited by Julian Isherwood.

Politiken is one of Denmark’s largest newspapers and has been published since 1884. The newspaper is owned by the Politiken Foundation and is part of the JP/Politikens Hus publishing group. Politiken is independent of all political parties and organisations.