First Republic looking to raise more money through private stock sale: report

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First Republic is trying to raise money from other banks or private-equity firms by selling new shares, The New York Times informed of late Friday, citing with knowledge of the discussions.

First Republic Stock FRC,
Friday sank 33%, and shares were down 6% in the extended session. The bank, which received a $30 billion cash infusion from 11 major US banks on Thursday, disclosed higher borrowing costs and suspended its dividend.

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