OTC wird wohl schon begonnen, Rechte zu traden Vorzugsaktien in Stammaktien einzulösen....
War anscheinend aber schon lange angekündigt und wird nun erstmals durchgeführt. Klingt mir aber nicht nach einem Wertpapier, dass die Citigroup so in eigener Regie durchführt....
DOWJONES
Citi When-Issued Shares Trading OTC
Citi When-Issued Shares Trading OTC
Last Update: 7/20/2009 12:59:50 PM
By Matthias Rieker
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--"When issued" shares tied to Citigroup Inc.'s (C) offer to
exchange preferred for common stock started trading over the counter Monday.
The New York Stock Exchange said it is monitoring the situation but hasn't
permitted "when issued" trading in Citi stock yet. In June, the NYSE said it may
admit such trading after Citi's S-4 filing, the key regulatory document for the
exchange offer, has been declared effective by the Securities and Exchange
Commission. The SEC declared it effective late Friday.
Arbitrageurs have been waiting for the "when issued" shares to start trading,
hoping to benefit from holding a long position in the preferred stock and
shorting the common stock, and at least one trader said the steep decline in
Citi's stock Monday could be at least partly attributed to "when issued" trading.
Citi's shares, which after signs of stabilization in recent months, have been
trading erratically again in recent weeks and on Monday, Citi's common stock fell
as much as 9%. Most recently, the stock was down 7.3%, to $2.80.
-By Matthias Rieker, Dow Jones Newswires; 212-416-2471;
matthias.rieker@dowjones.com
(END) Dow Jones Newswires |
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