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December 14, 2011 at 12:38 PM
DULUTH, Ga. (AP) – Citigroup has begun selling off its remaining stake in Primerica through a public offering, the provider of life insurance and other financial products said.
The approximately 8 million shares of Primerica stock to be sold represent all of the remaining shares owned by Citigroup following Primerica’s initial public offering last year. On Tuesday afternoon, Primerica said the offering priced at $22.29 per share.
Primerica shares fell 93 cents, or 4 percent, to close at $22.29. They rose 29 cents to $22.58 in aftermarket trading.
