29.3 F
Indianapolis
Thursday, March 28, 2024

Report: Goldman Sachs considering stock offer

More by this author

Goldman Sachs Group Inc. is considering raising new capital through a stock offer as part of a plan to repay government funds, according to a report Friday in The Wall Street Journal.

Last fall, Goldman received $10 billion in government funds as part of the Treasury Department’s program aimed at kickstarting the credit markets. Goldman executives in recent weeks have said they would like to repay the government loan in the near future.

An announcement from Goldman about the offer could come as early as next week, according to the Journal report citing anonymous sources. Goldman has not determined the size of the offering yet, the Journal noted.

A Goldman spokesman declined to comment on the report.

Goldman, widely considered among the strongest banks during the credit meltdown and recession, is scheduled to report its first-quarter results Tuesday. Analysts polled by Thomson Reuters, on average, forecast the New York-based bank will earn $1.60 per share for the quarter.

Shares of Goldman have been steadily climbing in recent weeks as financial stocks have led a rally in the market. Goldman shares have risen 47 percent since the beginning of the year, and have more than doubled since hitting a low of $47.41 in late November.

Goldman shares closed Thursday at $124.33. The market is closed Friday for the Good Friday holiday.

- Advertisement -

Upcoming Online Townhalls

- Advertisement -

Subscribe to our newsletter

To be updated with all the latest local news.

Stay connected

1FansLike
1FollowersFollow
1FollowersFollow
1SubscribersSubscribe

Related articles

Popular articles

EspaƱol + Translate Ā»
Skip to content