PNC Financial priced a $2 billion secondary offering of 55.6 million shares of common at $54 a share.
They are planning to use the money to redeem the $7.6 billion of preferred shares held by the U.S. Treasury.
The stock had opened at the NYSE at $54.17.
- 20 Key Financial Stocks — Real-Time Quotes
More on PNC:
- PNC to Repay TARP by Issuing Stock, Selling Unit
Other Financials in the News:
Bank of New York Mellon
*General Electric is the parent company of CNBC.
CNBC Data Pages:
Questions? Comments? email@example.com