SVB Financial looks to sell itself - CNBC
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FILE PHOTO: SVB (Silicon Valley Bank) logo and decreasing stock graph are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration
(Reuters) -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.
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.
SVB did not immediately respond to a Reuters request for comment.
(Reporting by Niket Nishant in Bengaluru)
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