Lehman Plans to Raise $6 Billion After $2.8 Billion Quarterly Loss

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Shares of Lehman Brothers Holdings Inc. are down sharply on Monday after the Wall Street bank reported a US$2.8 billion loss in the second quarter against an expected loss of around US$300 million.

It was the first ever loss for Lehman as a public company, and was triggered by marking assets to market and losses in proprietary trading.

On Friday, Lehman closed at $32.29, but is down to $30.50 in pre-market trading.

Lehman's loss per share was $5.14, against the consensus mean estimates for 0.375 cents.

By Adam Button and edited by Cristina Markham
©CEP News Ltd. 2008

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Lehman Plans to Raise $6 Billion After $2.8 Billion Quarterly Loss

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