When is citi going to reverse split

Under Citi's plan announced Monday, every 10 shares of its stock will be exchanged for 1 new share as of May 6. That will lift the price of each share of Citi stock by 10 times. Since there will be 10 times fewer shares outstanding, the overall value of the company will remain the same. The amount of Citi shares outstanding will drop to 2. The Fed's green signal last week to banks to increase dividends last week was seen as a sign of the industry's return to health.

The result: an entire sub-community of trading exists to trade Citi and the rebate around it. But to make it work, you need to trade a lot of shares north of 1 million a day and you need to keep the price low. What does it mean? Traders estimate that Citi's volume, post-split, is likely to go from about million to, perhaps, million, a drop of 80 percent.

That's million fewer shares. Get the app for Android. Get the app for iOS. Citi Citi, the leading global financial services company, has approximately million customer accounts and does business in more than countries and jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www. Certain statements in this release, including without limitation the consummation, effectiveness and completion of the reverse stock split and the timing thereof, the estimated number of shares of Citi common stock outstanding after the effectiveness of the reverse stock split, Citi's intention to reinstate its common stock dividend during the second quarter of , the return of capital to stockholders in , and statements regarding Citi's business strategy are "forward-looking statements" within the meaning of the rules and regulations of the SEC.

These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances.