Ken Griffin’s Citadel Equity Fund to sell 12% stake in E*TRADE
|The Citadel Equity Fund Ltd., an affiliate of Kenneth Griffin’s Citadel LLC, is planning to offer 23,950,000 shares of common stock in E*TRADE Financial Corporation (NASDAQ: ETFC) with a 30-day option to purchase up to an additional 3,592,500 shares. The total offering, including the 30-day option, represents a 12.45% stake in the company. E*TRADE Financial reported the news in a press release this past Wednesday. |
The last time Citadel sold such a large stake in E*TRADE, it caused a 7.1% fall in share price. In April 2010, Citadel Investment Group and Windgate Capital sold 172 million shares of E*TRADE common stock at $1.75 a share for a total of $301 million.
For Detailed Investor Profiles on these Investors, click below: