U.S. banks stocks have zoomed since cratering during the peak of the credit crisis and one, huge, very knowledgeable investors is saying ‘enough’ and cashing in their Citigroup holdings.
I’m talking about Temasek, the sovereign investment fund of Singapore.
Temasek did own 9% of Citigroup’s outstanding stock but now owns less than 5%. And they pocketed a very cool $1.6 BILLION of profits on it and still has another $1.6 billion open gain waiting to be banked. Not bad.
More on this topic
(What's this?)
Citigroup's Death Rattle
(Skeptical CPA, 11/16/09)
The FDIC is Not Buying What Citi is Selling
(naked capitalism, 10/9/09)
($C) Citigroup Luring Employees with Options
(Stock Blog Hub, 11/11/09)
"Pay Czar" Refusing to Back Down Over Possible $100 Million Citi Bonus
(naked capitalism, 8/17/09)
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{ 2 comments… read them below or add one }
hi tony,
ck out what china investment corp just pulled off with its apprx. 15 percent interest in noble group
hi tony,
ck out what cina investment group has just pulled off with its apprx. 15 percent interest in nolble group. on sxg suspended thru thru 9/23 but on ny pink nobgx.pk up .17 cents @ close 9/22