Shares of Credit Suisse (NYSE: CS) were up in pre-market trading on Monday after the Wall Street Journal reported that Saudi Crown Prince Mohammed bin Salman and a U.S. private equity firm could be considering an investment of $1 billion or more in the investment bank.
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The Saudi Crown Prince is looking at investing around $500 million when it comes to the spin-off of CS First Boston, and backing its CEO-designate, Michael Klein, the report said.
The spin-off of CS First Boston is part of the investment bank’s restructuring plan after steep losses in Q3 and regulatory scrutiny. Last month, CS stated that it expected substantial losses to continue in Q4.
Shares of CS have eroded more than 60% in value in the past year.