Treasury Sale of Citigroup Shares Slowed Last Month
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The U.S. government’s sale of Citigroup Inc. shares slowed last month as the bank’s share price tumbled 5.1 percent amid a stock-market slump.
The government sold 1.1 billion shares from May 27 through June 30, according to a Treasury statement today. The sales, which are being managed by Morgan Stanley, generated proceeds of about $4.3 billion and reduced the government’s holdings in New York-based Citigroup to 5.1 billion shares, or 18 percent of the total outstanding.