It looks like Citigroup is an underwriterand will be selling shares to the public ! This could be that they already sold them before and sold short , not will cover shorts and go lower , that is what they did on friday ! They dropped lower .20 ( - 1.80 % ) ! This is a very dangerous for investors situation , when they will be screwed !
No, Citibank funded a private offering for the shares among their investment clients. If the shares went on the market from there it's because those customers sold them themselves. Citi might have kept a small bit for their own funds, but I doubt they kept more than a fraction of what they brokered out.