Startup-focused lender SVB Financial Group is looking to sell itself after an attempt to raise capital through a stock sale failed, CNBC reported on Friday.
SVB logo and decreasing stock graph are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustrationis looking to sell itself after an attempt to raise capital through a stock sale failed, CNBC reported on Friday.
The bank was looking to raise more than $2 billion from investors to plug a hole in its balance sheet. Shares of the troubled company nearly halved on Friday in volatile trading with multiple halts and resumptions.Reporting by Niket Nishant in Bengaluru
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