http://blogs.reuters.com/reuters-dealzone/2008/04/30/just-enough-for-the-citi/ Behind the deals and deal-makers Sun, 7 Sep 2008 07:56:31 +0000 http://wordpress.org/?v=2.3.3 http://blogs.reuters.com/reuters-dealzone/2008/04/30/just-enough-for-the-citi/#comment-333855 NewsVisual Wed, 30 Apr 2008 19:22:51 +0000 http://blogs.reuters.com/reuters-dealzone/2008/04/30/just-enough-for-the-citi/#comment-333855 In an effort to rebuild its capital resources and to restore its balance sheets, Citigroup Inc announced on Wednesday that it will make a $4.5 billion public offering of common stock. Given the billions of dollars that the bank lost as a result of the subprime mortgage, it’s not surprising that the bank should be replenishing its coffers. The bank also recently offered an issuance of $6 billion of preferred stock. "We were pleased to increase the offering size to $4.5 billion in response to strong demand from a broad base of investors," said Citi CFO Gary Crittenden. "This optimizes our capital structure and further strengthens our balance sheet," he added. The Directors must now develop a strategic plan that will reverse the bank’s downward decline and that will make certain that the investors’ money results in future earnings for the bank. In an effort to rebuild its capital resources and to restore its balance sheets, Citigroup Inc announced on Wednesday that it will make a $4.5 billion public offering of common stock. Given the billions of dollars that the bank lost as a result of the subprime mortgage, it’s not surprising that the bank should be replenishing its coffers. The bank also recently offered an issuance of $6 billion of preferred stock. “We were pleased to increase the offering size to $4.5 billion in response to strong demand from a broad base of investors,” said Citi CFO Gary Crittenden. “This optimizes our capital structure and further strengthens our balance sheet,” he added. The Directors must now develop a strategic plan that will reverse the bank’s downward decline and that will make certain that the investors’ money results in future earnings for the bank.

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