March 31 (Reuters) - Citigroup Inc:
* Citi announces $320.4 million initial public offering of primerica
* Says approximately 21.4 million shares of primerica common stock were sold at
$15 per share
* Says Citi will beneficially own approximately 43% of primerica's common stock
* Says if the underwriters exercise their full over-allotment option, citi's
ownership of primerica common stock will be approximately 39%
* Says intends to divest its remaining interest in primerica as soon as is
practicable, subject to market and other conditions
* Sees the public offering and a private sale reducing citi's GAAP assets by
approximately $5 billion during the second quarter
* Says the primerica public offering and private sale are in line with citi's
strategy to reduce non-core assets, tightly manage risks and optimize assets
value
((New York Equities Desk; tel: +1 646 223 6000))
(For more news about Citigroup Inc click here:) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Citi announces $320.4 million initial public offering of primerica
* Says approximately 21.4 million shares of primerica common stock were sold at
$15 per share
* Says Citi will beneficially own approximately 43% of primerica's common stock
* Says if the underwriters exercise their full over-allotment option, citi's
ownership of primerica common stock will be approximately 39%
* Says intends to divest its remaining interest in primerica as soon as is
practicable, subject to market and other conditions
* Sees the public offering and a private sale reducing citi's GAAP assets by
approximately $5 billion during the second quarter
* Says the primerica public offering and private sale are in line with citi's
strategy to reduce non-core assets, tightly manage risks and optimize assets
value
((New York Equities Desk; tel: +1 646 223 6000))
(For more news about Citigroup Inc click here:) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2010 AFX News
