(Reuters) – Credit Suisse has launched large blocks of shares in media companies Discovery Inc and iQIYI Inc. after regular trading ended Tuesday, several sources said as the bank continued positions related to the collapse of Archegos Capital last month has.
Credit Suisse has not yet undone its Archegos positions, one source familiar with the matter said. The bank received a $ 4.7 billion blow from transactions with Archegos Capital, which led it to review the leadership of its investment bank and risk divisions.
Shares in Discovery and IQIYI fell in U.S. night trading after the offerings, which were lower than the closing prices of the shares, traded.
The bank has launched 19 million Class A shares and 22 million Class C shares of Discovery, as well as 35 million U.S. listed shares of iQIYI, an online entertainment company in China, according to the two market sources shortly after the close. CNBC first reported the stock offer.
According to the sources, the pricing for the Discovery A shares offer was $ 38.40 – $ 39.60 compared to a closing price of $ 40.38 in the regular session. DISCA fell by 3.7% in trading after hours.
Credit Suisse offered Discovery C shares with a price range of $ 32.35 to $ 33.75, compared to the closing price of $ 34.78. The shares in DISCK C fell by more than 5% after trading.
It offered the iQIYI stock $ 15.85- $ 16.35 after closing at $ 16.66, lowering the stock by 3.4% after the call trade.
A representative of Credit Suisse declined to comment.
Last week, the company offered large shares in ViacomCBS, Vipshop Holdings Ltd and Farfetch Ltd, which are also related to the winding up of Archegos.
Reporting by Sinéad Carew, Lance Tupper and Matt Scuffham; Edited by Lincoln Feast.