The U.S. Treasury Department said on Thursday that it’s completed the sale of additional Citigroup, Inc (NYSE: C) stock bringing the government’s profits from the sale of the bank’s stock to more than $2 billion.
In total, the Treasury Department has sold a total of 2.6 billion shares of Citigroup, Inc (NYSE: C) or about one-third of its total holdings at an average share price of $4.03. The Treasury paid about $3.25 per share to acquire the stock when Citigroup, Inc (NYSE: C) participated in the government’s Troubled Asset Relief Program.
The U.S. Treasury still holds more than 5.1 billion Citigroup, Inc (NYSE: C) shares and will continue to sell them in what the Treasury calls an “orderly fashion” once a blackout related to Citigroup, Inc (NYSE: C)’s second-quarter earnings release ends. The blackout period begins on July 1st.
Citigroup, Inc (NYSE: C) traded up 0.26% on Friday hitting $3.79 by the end of the day.
Citigroup Inc. (Citigroup) is a global diversified financial services holding company. The Company provides consumers, corporations, governments and institutions with a range of financial products and services.
