UBS to raise 2.1bn as it warns of loss

SWISS bank UBS, one of the world&rsquo;s hardest-hit banks in the financial crisis, said yesterday it would raise about Sfr3.8bn (&pound;2.1bn) of equity capital and warned it would fall to a net loss in the second quarter of 2009.<br /><br />UBS is offering about 293.3m new shares at a price of Sfr13.00 per share, a 6.9 per cent discount on yesterday&rsquo;s closing price of Sfr13.97. Shares of UBS fell 5.9 per cent ahead of the offering.<br /><br />In a statement, the Swiss government said the government welcomed the bank&rsquo;s efforts to strength its capital base.<br /><br />The world&rsquo;s largest wealth manager by assets is trying to rebound after last year suffering the biggest annual loss in Swiss history because of massive writedowns.