個人積分：1分
文章編號：10942584
個人積分：177分
文章編號：10942674
個人積分：0分
文章編號：10950110
好像這個 reverse stock split 在4月初會進行
但好像是 先將在外流通股數收回
再經過重整 然後再發行新股(收回美國財政部的特別股)
實在搞不懂??
那對我們散戶有啥好處
NEW YORK (AP) -- Citigroup Inc. is considering a reverse stock split -- a move that wouldn't actually increase value for shareholders, but would bump up the share price.
The split is not a done deal. Citi said Thursday it will file a proxy to regulators to authorize its board of directors to execute a reverse stock split.
But if the company decides to go through with the split, Citigroup's pummeled stock price could get a lift. Shares dropped to an all-time low below $1 a share earlier this month on worries about the banks' viability.
"In this particular circumstance, it would actually help them a great amount," said Jack A. Ablin, chief investment officer at Harris Private Bank. "An issue with shares is marketing ... . You don't want your price to be too low. Having a share price that low doesn't engender a heck of a lot of confidence."
He added that many mutual funds and institutional investors, including his bank, tend to not buy stocks trading at less than $7 a share.
As Citigroup reported five straight quarters of losses, Citi's stock price fell 77 percent in 2008, and another 54 percent so far this year. Its shares tripled over the past two weeks, though, after Chief Executive Vikram Pandit said the bank was profitable in January and February.
Citigroup shares fell 48 cents, or 15.6 percent, to close at $2.60 Thursday.
A split does come with costs, said Bill Rhodes, founder and chief investment strategist at Rhodes Analytics in Boston. Notably, small shareholders with odd numbers of shares need to be bought out.
Both Rhodes and Ablin also noted that raising Citigroup's stock price might give short-sellers more room to drive the stock down again.
A reverse stock split does not change the market value of the shares, and instead reduces the number of a company's shares outstanding.
Citigroup's capital base has been dwindling. Because the share price has plummeted, higher numbers of shares are required to compensate employees. So the bank is also planning to boost the number of its common shares outstanding. It said Thursday it will file a separate proxy to propose to amend Citi's charter to increase the number of authorized shares of its common stock.
And, as announced late last month, Citi is seeking to exchange about $27.5 billion in public and private preferred securities for common shares as part of its agreement with the Treasury Department.
The deal represented the government's third attempt in five months to prevent the beleaguered banking giant's collapse.
The Treasury Department has pledged to match up to $25 billion of the conversions. Citigroup said all private holders of convertible preferred securities, with a total liquidation value of $12.5 billion, have agreed to the swap.
The bank will also offer holders of non-convertible preferred and trust preferred securities to exchange their shares. The conversion price is $3.25 per share. Citigroup said it plans to launch the exchange in early April.
The number of the bank's common shares will increase significantly following the exchange offer and subsequently boost the bank's capital cushion. That number would then be reduced if the reverse slip were to be done.
個人積分：177分
文章編號：10962534
個人積分：0分
文章編號：10962638
個人積分：177分
文章編號：11005512
個人積分：177分
文章編號：11008647
個人積分：0分
文章編號：11008992
個人積分：756分
文章編號：11009089
老本我是不敢拿來玩
個人積分：177分
文章編號：11009123
