South Korea defence company LIG Nex1, which makes missiles and develops weapons systems, is selling an up to 49 percent stake that could raise as much as $400 million, according to sources familiar with the matter. LIG Nex1, which makes anti-submarine and cruise missiles as well as weapons systems, has hired Citigroup Inc to sell the stake in an auction which that target private equity firms and strategic buyers, the sources told Reuters.
Citigroup Inc. (Citigroup) is a global diversified financial services holding company whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services. Shares of C fell by 3.4% or $-1.24/share to $35.21. In the past year, the shares have traded as low as $21.40 and as high as $46.90. On average, 48676900 shares of C exchange hands on a given day and today's volume is recorded at 113680456.
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