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Citigroup Inc. Message Board

  • billbrittain3 billbrittain3 Feb 21, 2010 11:07 AM Flag

    C Is Ready (& Waiting) To Go Higher

    Paulson added to his position in the 4th quarter
    Soros started to buy in the 4th quarter
    Analyst upgrades
    Citigroup is undervalued based on its book value
    and?
    and?

    and (of course)

    C IS THE LEAST EXPENSIVE BIG BANK STOCK, BY FAR.

    (Not that it matters, but C closed at $2.69 on 7/27/2009 and C closed at $5.23 on 8/28/2009.
    Different times, I know, but if it could happen once it could.................................)

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    • Thanks for all your responses. Let's hope C goes to 15+ so that working for a living becomes a choice and not a necessity :-)

    • I wish I knew, what "they" are waitng for. (in regard to a possible buyback of government shares) I can't think of anything that would be better for C.

    • Looking for a gap up in the morning. Gotta go now....commute home from work ya know.

    • They filed a document....I think on Dec 22 that indicated the offering was oversubscribed by @ 200 million shares. The max they autorized for oversubscription was @ 800 million shares.

      Why did they decide to issue debt securities for $3+ billion..?? instead of more common?? So they would not go over the theoretical limit of 30 billion shares, after they added in bonus giveaway shares.

    • Also, Out of the 5+ billion shares that C issued in December, If C still has 3.2 billion shares with them, then actual issue was only about 2 billion or so. That may explain the 17 times oversubscription (If this oversubscription is a fact)

    • For what other reason did the Feds push out the "lock down" period from 45 days out to 90 days? There is no other reason that to give C more time to do share repurchases on the open market and by tender offers.

    • Thank you for the extract.

      So Ghall, What is your interpretation of these clauses in C's context ?

    • So what are they waiting for?

      ---------

      For C to complete their buyback.....?? :-)

    • Found my reference......

      Q2.8. How is "completion of participation in a distribution" defined for purposes of determining the applicable restricted period under Regulation M?
      A2.8. Pursuant to Regulation M, a person's role in the distribution determines when its completion of participation in the distribution occurs (e.g., for an underwriter, this generally is when its participation has been distributed). The SEC has stated that generally, each syndicate member's participation in a distribution is completed when all of the shares in the offering have been distribution and after any stabilization arrangements and trading restrictions in connection with the distribution have been terminated. For a selling group member that is not part of the underwriting syndicate, its participation in a distribution is completed when the selling group member has sold its entire allotment.





      http://www.sec.gov/interps/legal/mrslb9.htm
      Rule 100
      Affiliated Purchasers
      Q: Are affiliated purchasers of the issuer, a selling security holder, or of a distribution participant permitted to purchase the issuer's securities that are being distributed?
      A: Yes. The definition of "completion of participation in a distribution" clarifies that affiliated purchasers of an issuer, a selling security holder, or of a distribution participant may purchase in the distribution, provided that the securities are acquired for investment purposes. However, consideration may need to be given to other requirements, depending on the nature of the offering or the extent of purchases. For example, disclosure in the registration statement may be necessary, if information regarding such purchases would be material to investors' decision to buy in the offering. Also, affiliated purchasers must comply with the requirements under Exchange Act Rule 10b-9 if applicable to the offering and the Free-Riding and Withholding Interpretation, IM-2110-1 (Interpretation) contained in National Association of Securities Dealers, Inc. ("NASD") Conduct Rule 2110, if the offering involves a "hot issue."

    • No. Its all relative on timing. If USG agrees to a price, once that announcement is made C stock is going up beyond what USG sold for, that is a given. Taxpayers with any sense know that if they announce USG is gonna sell shares 7.7 Billion shares the stock price is gonna go down, therefore it is in taxpayers, C's, USG's, shareholders best interest to sell in one lump sum to C. So what are they waiting for?

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