Treasury selling another 1.5 billion Citigroup shares
The Treasury Department is set to sell another 1.5 billion of Citigroup (C) common shares it acquired during the massive government bailout last year. This is the fourth such sale by the Treasury, and Morgan Stanley will lead the offering. In late September, the Treasury netted about $16.4 billion from the sale of 4.1 billion Citigroup shares. The Treasury gave Citigroup $45 billion through the Troubled Asset Relief Program in 2009 and has received $41.6 billion in return, so far. Following this offering, which expires Dec. 31, the Treasury will still hold about 3.6 billion Citigroup common shares, or 7% of the banking giant, with plans to continue selling them. Under the TARP, the Treasury initially held 7.7 billion Citigroup common shares, or a 27% stake in the company. Write to Jason Philyaw.