Bank of America raised $19.3 billion selling securities at $15 apiece in the biggest sale of stock or preferred shares by a US public company for at least nine years, Bloomberg reported.

The bank, which plans to repay $45 billion of TARP funds, sold 1.286 billion so-called common equivalent securities, according to data produced by the news service.

In January this year, BoA completed its takeover of Merrill Lynch, creating the world’s largest wealth management firm. The deal has been controversial amid claims that BoA did not fully inform shareholders of the scale of debt losses that Merrill Lynch had sustained.

Word that top candidates for the chief executive job at BoA are discussing breaking the giant bank up has kindled renewed speculation about the fate of Merrill Lynch. On Wednesday The Wall Street Journal reported that at least two candidates being interviewed for the chief executive job at BoA have told the board of directors that the  country’s largest bank should consider breaking itself up. Industry observers said the idea of a break-up should not be ruled out.