Preferred share conversions are usually done on a dollar-for-dol

There are 11.33B shares of C right now. So it is from 11.33B to 22.88B.
Preferred share conversions are usually done on a dollar-for-dollar basis. So there should be no value dilution for share holders. Where does the $3.28 come from? Please direct me to the news source.

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• 是地球人都知道Citi以$3.28每股转换美国政府、沙特王子等的preferred shares -上流Man- ♂ (91 bytes) () 09/09/2009 postreply 17:33:04