U.S. private equity firm, Citadel, is seeking sell around 11% stake in online broker, E*Trade Financial, The Wall Street Journal reports. The Illinois-based firm will offer around 24 million of its shares in the company.
After the offering, Citadel will still own just under a 20% stake in the New York-based E*Trade Financial. Citadel is expected to convert a large portion of its remaining converted stake back into equity after the offering.
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