It's hard to see that helping the share price get above the level where it's struggling to get much above 200p - that's after a ten-for-one split of shares, so it equals 20p in old money.
Basically, the Karfunkels, whom together about evenly split 49% of AmTrust shares, have made a fortune specializing in niche insurance products for small businesses, such as insuring the inventories of lumber yards and the tools of auto mechanics.
Ms. Cargill, who was 85 when she died in 2006, left all of her shares of Cargill stock to be split between the Anne Ray Charitable Trust and the Margaret A. Cargill Foundation, in Eden Prairie, Minn.
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The reverse stock split will reduce the number of outstanding shares to 2.9 billion from 29 billion.
FORBES: Citigroup Reinstates Dividend, Reduces Share Count With Reverse Stock Split
After the 2007 decision by Sun Microsystems for a one-to-four reverse split, shares ended up losing 80% of their value in following year before eventually being acquired by Oracle ( ORCL).
It will take some time to see whether the split will result in more institutional ownership of Citigroup shares, but as an individual investor, I would not be happy to get 20 shares for the 200 I had originally purchased.
For every ten shares of stock issued, the split will combine them into one share without any change in par value.
FORBES: Citigroup Reinstates Dividend, Reduces Share Count With Reverse Stock Split
Back in his 1983 annual letter, the Oracle of Omaha questioned why in the world anyone would split their shares.
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Since last year's meeting, shares of Genentech have nearly doubled on a split-adjusted basis, and those of ImClone Systems (nasdaq: IMCL - news - people ) are up 150%.
Its shares are near a split-adjusted five-year low after a series of embarrassments.
Two individuals managed to buy more than 110% of Global Links shares in the confusion after the 350-to-1 reverse split occurred.
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