Finance History|11 Wall Street — Twenty-One Fifty for a Quarter of a Rhode Island Bank

People treat Citizens as a Providence regional bank that always printed CFG.

The 2014 issuer was still a subsidiary of The Royal Bank of Scotland Group.

Citizens' 23 September 2014 release priced 140 million shares, 25 percent of the common, at 21.50 dollars a share.

RBS sold the entire float. The underwriters held an option on another 21 million shares.

Trading on the New York Stock Exchange under CFG began on 24 September 2014.

The Associated Press recorded that the offering raised about 3 billion dollars in 2014 currency, below the marketed range of 23 to 25 dollars.

Bloomberg recorded a first-session close of 23.08 dollars, a 7.3 percent gain from the offer.

As of 30 June 2014 the bank reported 130.3 billion dollars of assets.

The mechanism is a government-driven carve-out. RBS, then majority-owned by the United Kingdom, was selling the American book to rebuild capital at home.

The pin is the Broad Street facade of the Exchange, where CFG opened. Interior trading is not visitable from the sidewalk.

Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.