ZURICH (Reuters) -Credit Suisse has made 889 million new shares available to existing investors at 2.52 Swiss francs ($2.67) per share, the bank said on Thursday, confirming the final terms of its 4 billion franc capital hike.

The capital increase, which was approved by investors on Wednesday, is intended to fund the embattled bank’s turnaround plan, an attempt to recover from the biggest crisis in its 166-year history.

The share issue is expected to raise roughly 2.24 billion Swiss francs, Credit Suisse said.

Switzerland’s second biggest bank also confirmed it has issued 462 million new shares to qualified investors via a share placement, with Saudi National Bank the biggest investor after buying 307 million new shares to give it a stake of 9.9%.

The 4 billion francs Credit Suisse expects to raise from the share placement and the rights offering will be used to support its restructuring and shift away from investment banking.

Under the capital hike, shareholders will be allotted one pre-emptive subscription right for each share they hold on Nov. 25. Seven rights will allow the holder to purchase two new shares at the discounted price of 2.52 francs per share, with the exercise period running from Nov. 28 to 12.00 p.m. local time on Dec. 8.

The number of shares and the price are the same as previously outlined by the bank, based on a reference price set at 4.07 francs per share.

Credit Suisse shares, which have lost 59% of their value so far this year, closed on Thursday at 3.551 francs.

Earlier this week Credit Suisse flagged that it was on course for a pre-tax loss of up to 1.5 billion Swiss francs in the fourth quarter, continuing to bleed billions of francs as wealthy clients turn their back on the bank.

The listing on the Six Swiss Exchange and first day of trading for the new shares from the rights issue is expected to take place on Dec. 9.

The nominal share capital of Credit Suisse Group has already risen 17% following the completion of the share placement portion of the capital hike.

($1 = 0.9431 Swiss francs)

(Reporting by Noele Illien; Editing by John Revill, Kirsten Donovan)