The bank also received capital from the Swiss government and through a series of equity offerings in 2007, 2008 and 2009.
And the industry is burdened by high costs, which it has tried to finance with equity offerings.
Since then, the firm has taken several further steps toward an equity offering of its own shares.
Under the equity offering, about 21.8 million common shares were sold at $5.25 each.
Most large companies will not be bothered, because they rarely rely on major equity offerings for their financing needs.
It suffers from an identity problem despite making great strides to increase its equity offerings and to retain growing companies.
G.M. has been forced to raise additional cash through equity offerings.
There is also talk of a straight equity offering.
The combined sale is expected to raise about $12 billion, making it the world's largest equity offering.
He himself had overseen more than 1000 equity offerings during his career.