Deutsche Bank Drops After Announcing Capital Raise

Deutsche Bank AG (USA) DB shares are trading trading lower by $0.80 (3.7 percent) at $18.55 in Monday's session. Investors are exiting the issue after the company announced it expects to issue 687.5 million new shares as part of a capital increase.

With the new funds, the company plans to reconfigure existing global markets and corporate finance and consolidate its banking businesses into one division.

Rumors of the capital raise induced a late plunge in the issue on Friday, shedding $0.50 in the final 15 minutes of trading to close at $19.35.

So far, its lower opening tick of $19.01 stands as the high for the session. It has continued to make lows for the day, with the current one resting at $18.53. That marks the lowest level for the issue since it bottomed on January 18 at $18.41.