Wells Fargo & Co. on Tuesday priced a stock offering of $10.65 billion that is intended to help it repay $25 billion in government support. The banking company said it could raise more capital to avoid selling nonstrategic assets.

The stock issue priced 426 million shares at $25 each. Wells agreed a day earlier to raise at least $10.4 billion in new capital as part of a deal with regulators to exit the Troubled Asset Relief Program.

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