Credit Suisse went from making an estimated $466 million in gross SPAC underwriting fees in the first quarter, to $16.1 million between April 1 and June 15, according to data provider Refinitiv.
Capital A, formerly known as AirAsia Group Berhad, was hard-hit by pandemic travel restrictions in Asia, leading Bursa Malaysia Securities to classify it as a PN17 company, or financially distressed.