ADVFN - Advanced Financial Network.
HOME» NYSE » C » C Stock Price » C Stock News

Citigroup Share News

 Citigroup Stock Price
C Stock Price
 Citigroup Stock Chart
C Stock Chart
 Citigroup Stock News
C Stock News
 Citigroup Company Information
C Company Information
 Citigroup Stock Trades
C Stock Trades

AIG, BlackRock Lead Financial Firms in Selling Shares This Year

By Liz Moyer When the going gets tough, banks turn to their own to drum up business. As global equity underwriting for the first half of this year hit a seven-year low, financial companies led other sectors in selling shares to the market. The top three issuers--American International Group (AIG), BlackRock Inc. (BLK) and Capital One Financial Corp. (COF)--have collectively issued some $23 billion year-to-date, according to Ipreo, a capital markets research firm. AIG's three stock sales--the biggest among financial firms this year totalling $17.4 billion--are related to the U.S. government's sale of its holdings in the insurer. After AIG, BlackRock is the second-largest seller with a $4.6 billion offering in May. Capital One sold $1.3 billion of stock in March. Financial companies have long been Wall Street's biggest customers. Among the top banks arranging stock sales for the financial sector, Morgan Stanley (MS) leads so far this year with 21 deals. Bank of America (BAC) is second with 20 deals, and Citigroup (C) is third with 15, according to Ipreo. J.P. Morgan Chase & Co. (JPM), Barclays Plc. (BCS), Deutsche Bank AG (DB) and Goldman Sachs Group Inc. (GS) each have 14. Revenue from underwriting, whether it be initial public offerings or subsequent sales by public companies, is down on Wall Street. At Morgan Stanley, which led high profile IPOs like Facebook Inc.'s (FB) debut in May, stock underwriting revenue fell 35% in the first half of the year, to $455 million. Bank of America's equity underwriting revenue fell 43% to $497 million in the first half of the year. Citi's equity underwriting revenue fell 33% to $321 million. While financial firms were busier than other sectors, their issuance was down from last year, at $34 billion so far this year compared to $38.1 billion last year. Technology firms sold $24 billion of equity year-to-date, according to Ipreo, up from $16.6 billion in 2011. Real estate investment trusts also sold $24 billion of equity so far this year, down from $28.4 billion last year. Write to Liz Moyer at Subscribe to WSJ:

Stock News for Citigroup (C)
10/21/201602:00:00Citi Appointed Depositary Bank for OMV Petrom’s GDR Programme
10/20/201615:55:58Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
10/20/201615:33:51Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
10/20/201612:27:29Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
10/20/201612:23:52Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
10/20/201610:56:54Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
10/20/201606:02:32Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
10/20/201603:00:00New Citi Report: Infrastructure – the $59-trillion opportunity t...
10/19/201617:25:00Top Citigroup Compliance Official to Step Down, Sources Say
10/19/201617:05:33Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
10/19/201616:48:34Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
10/19/201615:30:00Oil at One-Year High on Falling Stockpiles
10/19/201614:56:00Citi Appointed Depositary Bank for Gridsum Holding Inc.’s Level 3...
10/18/201614:55:24Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
10/18/201610:00:00Saudi Arabia Plans First International Bond Sale -- Banker
10/18/201609:52:19Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
10/18/201608:20:00Goldman Sachs Profit Climbs on Trading Revenue
10/18/201606:02:08Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
10/18/201605:50:00U.K. Inflation Nears Two-Year High
10/17/201614:24:00MARKET SNAPSHOT: Stocks Slump As Investors Shrug At Solid Earnings...

Citigroup and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations