The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Perspective who wrote (196190)	4/13/2009 10:06:49 PM
From: RockyBalboa	Read Replies (1) of 306849

You read it right - in other words the common stock would be diluted to approx 1/4. but I have my doubts now - how real that is: The conversion was heavily touted end of february and the Citi stock would hit $1 on this while the preferreds went up in price according to their new exchange ratio. See here: dailymarkets.com zacks.com >>>>>>>>> Earlier Friday Citigroup announced it will offer to convert into common shares approximately $27.5 billion of its preferred stock sold to public and private investors, and up to $25.0 billion in preferred stock bought by the U.S. government. The U.S. government would have approximately a 36% stake in Citigroup, while existing shareholders would be cut to a 26% stake, if fully executed. <<<<<<<<<<<< Alas, I recently checked SEC filings and I have yet to find registration statements for 15B new C common shares, a prospectus or S-3 registration or something meaningful. But there are hundreds of documents in this year for Citi, from $3B FDIC insured floaters to ownership statements to prospectuses for various structured products. Perhaps I just haven´t found it.

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