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Citigroup (C) plans to raise up to $2.1B by selling its entire stake in India's Housing...

  • Thursday, February 23, 2012, 8:07 AM ET
    Citigroup (C) plans to raise up to $2.1B by selling its entire stake in India's Housing Development Finance Corp tomorrow, sources say. Citigroup holds 145M shares, or around a 9.9% stake, and is apparently selling the stake to bolster its capital in light of new banking rules.
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    That's great. A sound capital gain of nearly US$ 1.5 bn (Expected sale value US$ 2.1 bn with investment cost US$ 0.60bn) if this deal goes through.
    23 Feb 2012, 09:23 AM Reply Like
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