Dallas, Texas 08/20/2013 (Financialstrend) – It had recently been announced that Citigroup Inc (NYSE:C) had initiated public offers to purchase the cash definite of the company’s notes for an aggregate value of $11.5 billion. It is reported that there are around $3.07 billion worth offers that are to be made under the liability administration plan of the company. The bank holding major had recently withdrew around $25 billion worth subordinated debt, trust preferred securities, senior debt and preferred debt to provide for the effective reorganization of the company’s liquidity and to enable reduction in the funding costs.
Citigroup Inc (NYSE:C) had appointed Michael Borch as the new Chief Operating Officer for the Asia Pacific region’s investment banking and business segments of the company to replace Chris Laskowski. In another announcement, it had been reported that the bank had closed down the operations of all its branches in Egypt in line with a verdict that was recently issued by the Bank of Egypt. The company presently has around $250 million of investments made in the 9 branches across the country and had employed around 650 people to operate the same. It is expected that the operations of Citigroup in Egypt would remain closed until another verdict.
Citigroup Inc (NYSE:C) had been moving down on Monday to lose around 2.03% in prices and thereby had closed at $49.33 per share. The stock had moved on to present fluctuations in prices in the range of $49.30 to $50.13 per share for the day. The stock had further reported trading volume at 22.96 million shares on the first day of the week, while the company on an average had recorded trading volumes at 23.71 million shares per day. The shares of this company had presently reported the 52 week low of $28.79 and 52 week high of $53.56 per share.