Citi Raises $12.5B in Capital

Citi also announced the raising of $12.5 billion of capital via the sale of convertible preferred securities, including a $6.9 billion investment by the Government of Singapore Investment Corp. The private offering included investments from several other sources, including the Kuwait Investment Authority and The Weill Family Foundation. Citi also announced a public offering of approximately $2 billion in convertible preferred securities; a reduction in the company's quarterly dividend to $0.32 per share; and continuing sales of noncore assets, including asset reductions of approximately $176 billion in the fourth quarter under generally accepted accounting principles.