Why Credit Suisse (CS) Shares Are Falling Today

The Qatar Investment Authority (QIA) has increased its stake in Credit Suisse Group Inc (NYSE:CS), becoming the second-biggest shareholder after the Saudi National Bank.
As per the U.S. Securities and Exchange Commission filing, the QIA doubled its stake in the Swiss bank and now owns a 6.87% stake in Credit Suisse.
The move comes as Harris Associates, the bank's biggest shareholder just a few months ago with a 10% stake, now owns less than 5%.
Together with the Saudi National Bank's 10% stake and 3% held by the Olayan family of Saudi Arabia, the three Middle Eastern investors control more than 20% of Credit Suisse's stock, Financial Times reported.
Earlier, the Financial Times reported that the Qatar Investment Authority was looking to increase its stake in Credit Suisse, with Saudi National Bank, QIA, and Olayan owning between 20%-25% of Credit Suisse.
In December, the bank closed rights offering for 872,989,594 newly issued shares for the gross proceeds of approximately CHF 2.24 billion.
The gross proceeds for Credit Suisse of the rights offering and the previously implemented capital increase are expected to amount to approximately CHF 4.0 billion.
Price Action: CS shares are down 2.26% at $3.46 during the premarket session on the last check Tuesday.

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