The Wall Street Journal
30 Apr 2008
SINGAPORE -- The Government of Singapore Investment Corp. will likely participate in Citigroup Inc.'s coming sale of $3 billion in common stock, two people familiar with the situation said Wednesday.
"GIC believes in the Citi investment and it will likely look positively at the capital increase. But it's still not decided whether they will keep their (4%) stake at current levels or increase it," one of those people said.
Citigroup, bracing for a continued surge in bad loans, said Tuesday that it plans to raise at least $3 billion in new capital by selling common stock.
>>>> More
