- Shares of SVB Financial Group (SIVB.O) tumbled 40% in premarket trading on Friday.
- The startup-focused bank's shares slumped 60% after disclosing plans to raise over $2 billion from investors to counter losses from the sale of its bond portfolio.
- Venture capital investments, a crucial source of funding for the bank's clients, were also expected to be constrained in the near term.
SVB Financial shares slide again on concerns over balance sheet
Shares of SVB Financial Group tumbled 40% in premarket trading on Friday, piling on to steep losses logged a day earlier after the embattled lender's plans for a capital-raise fueled concerns about the strength of its balance sheet.
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