BSCH & Credit Suisse may make a $1bn from MetLife IPO
A filing by Metropolitan Life showed that the two banks responsible for the marketing of the MetLife shares during its IPO last year gained 60m shares for a price of $14.25. MetLife shares were trading at $30.92 yesterday.
Though early news stories stated that the two banks were to dispose of their shares soon the banks themselves stated that it was not policy to discuss future investment positions. Some believe financial services stocks will continue to rise for some time to come and therefore the banks may not be in any rush to sell.
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