UBS shares fell as much as 9% this morning after local press reports suggested the Swiss bank may post a second-quarter loss of up to Sfr4bn (â¬2.4bn), and senior managers and board directors sold 1.5 million of subscription rights for its capital increase, according to regulatory disclosures.
The trading of subscription rights for the capital increase opened on May 26 and closes today. As of last Friday senior managers and board directors had sold more rights to new shares than they bought new rights, or exercised their existing allotments.
