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Citibank in 2011 exchanged all of its old shares for new shares. When its stock dropped to $3, its status as a NYSE-listed stock was

Citibank in 2011 exchanged all of its old shares for new shares. When its stock dropped to $3, its status as a NYSE-listed stock was in jeopardy. For ten old shares, shareholders receive one new share. What did this do to Citibanks stock price?

Its stock price remained unchanged

It jumped to $30

It rose to $20

It rose to $10

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Principles of Corporate Finance

Authors: Richard Brealey, Stewart Myers, Franklin Allen

11th edition

978-0078034763

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