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WASHINGTON — The Treasury Department said Wednesday it raised $6.2 billion from the sale of 1.5 billion shares of Citigroup stock it received as part of the federal rescue of the bank. The government sold the shares at a profit as it seeks to recoup the costs of the $700 billion financial bailout.
The sales took place over the past month and represented 19.5 percent of the government’s holdings of Citigroup common stock.
Treasury said it has triggered a second round of stock sales through its agent, Morgan Stanley. That will involve an additional 1.5 billion shares.
The stock sold for an average price per share of around $4.33. Treasury paid $3.25 a share.
