(Reuters) – Credit Suisse has launched large blocks of shares in the media company Discovery Inc and iQIYI Inc, after regular transactions ended on Tuesday, several sources said, while the bank continued to develop positions related to the disintegration of Archegos Capital last month.
Credit Suisse has not yet completed the disclosure of its positions in Archegos, said a source familiar with the matter. The bank was a $ 4.7 billion success in its dealings with Archegos Capital, prompting it to review the management of its investment bank and risk divisions.
Discovery and IQIYI shares fell in the US after trading on news of offers, which were placed below the closing prices of the shares.
The bank launched 19 million Class A and 22 million Class C shares of Discovery, as well as 35 million US-listed shares of iQIYI, a Chinese online entertainment company, shortly after closing. , according to two market sources. CNBC first reported the share offer.
Sources said the price range for the Discovery Class A stock offer was $ 38.40 – $ 39.60 compared to a closing price of $ 40.38 in the regular session. DISCA decreased by 3.7% in trading after hours.
Credit Suisse offered Discovery C shares with a price range of $ 32.35 – $ 33.75 compared to the closing price of $ 34.78. DISCK C shares fell more than 5% in after-hours trading.
It offered iQIYI shares $ 15.85 – $ 16.35 after closing at $ 16.66, sending shares down 3.4% after the bell traded.
A Credit Suisse representative declined to comment.
Last week, the company offered large blocks of shares to ViacomCBS, Vipshop Holdings Ltd and Farfetch Ltd, also related to the deployment of Archegos.
Reporting by Sinéad Carew, Lance Tupper and Matt Scuffham; Edited by Lincoln Feast.