October 2, 2015 / 3:57 PM / 2 years ago

BUZZ-National Bank of Canada: Warns of Maple Financial writedown

** Canadian lender's shares fall as much as 6 pct to C$40.51; biggest intraday percentage fall in more than 5 years

** Says its investment in Canadian lender Maple Financial Group Inc "at risk of substantial loss" and could potentially be written down

** Nat'l Bank holds a 24.9 pct stake in Maple Financial: investment had a carrying value of C$165 mln as of Aug. 31

** Nat'l Bank to incur restructuring charge of about C$85 mln in Q4

** Credit Suisse cuts price target to C$50 from C$54

** Nat'l Bank to also raise C$300 mln ($227 mln) from offering of 7.2 mln common shares

** Offering priced at C$41.90/shr, a 2.9 pct discount to Thursday's close

** Offering size represents about 2 pct of total shares outstanding

** Bank says to cut "a few hundred" jobs to improve operational efficiency

** Company had 20,000 employees as of Oct. 31, 2014

** 2 of 11 brokerages covering the stock rate it "buy" or higher, 8 "hold" and 1 "sell" or lower; median PT is C$49

** Up to Thursday's close, stock had fallen nearly 13 pct this year

1 US dollar = 1.3210 Canadian dollar

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