Citigroup Warrants Sold by Treasury for $312 Million
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Citigroup Inc. warrants, given to taxpayers as part of the bank’s $45 billion bailout, sold for $312 million in a U.S. Treasury Department auction.
The government sold about 255 million “A” warrants for $1.01 apiece, compared with a minimum bid price of 60 cents each set on Jan. 24, Treasury said today in a statement. About 210 million “B” warrants priced at 26 cents each, compared with the base bid of 15 cents. Warrants give holders the right to purchase shares up to a certain price for 10 years.