Underwriters led by Morgan Stanley & Co. increased the size of Citicorp's Percs issue another $100 million to $1.1 billion.
Citicorp in August filed with the Securities and Exchange Commission to sell $650 million of preferred equity redemption cumulative stock. The issue was increased to $1 billion last week.
Trading in the Percs and Citicorp common stock continued to be heavy, with about twp million shares of each changing hands by midday. Both were among the most active issues on the New York Stock Exchange.
Citicorp issued 76.9 million depositary shares, 8.9 million more than previously announced. The sale was completed Thursday. Each depositary share represents one-twelfth of a share of the Percs, a type of mandatory convertible preferred stock.