Citibank’s ‘Nationalization’: Am I missing Something?
Posted on February 23rd, 2009 by HJ
The plan is to convert the Government’s preferred shares to common shares. The value of the Government’s preferred to common conversion is $45 billion.
At $2.50 per share (Citi closed lower than that today), that is 18 billion shares.
Citi has a current float of 5 billion shares. Are they talking about quadrupling the float of the common stock?
Oh vey. Tell me again how this is going to make the stock price go up?
Disclosure: As of publication I have no position. I am not a professional, but I am trying this at home. It is highly recommended that you consult a licensed financial advisor or broker before making any and all investment decisions.
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