Citi Punished on TARP Repayment (C)

Posted in pre-market 
December 14th, 2009

Citigroup Inc. (NYSE: C) is trading lower now that will repay the $20 billion in TARP funds with new capital raised from private investors.  Citi will also facilitate the sale of the government’s $25 billion stock investment, and will begin to remove itself from other forms of government assistance. At 7:31 AM EST we have Citi trading down 3% at $3.83 on over 52 million shares.  Unfortunately, there is not much else to say other than that this is going to be very dilutive to shareholders that have already been diluted.

Jon C. Ogg

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