PROVIDENCE, R.I.--(BUSINESS WIRE)--Citizens Financial Group, Inc. (CFG) today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission for a proposed initial public offering of its common stock currently held by The Royal Bank of Scotland Group plc (RBS). The number of shares to be offered and the price range for the proposed offering have not yet been determined.
Morgan Stanley & Co. LLC and Goldman, Sachs & Co. are acting as joint global coordinators and J.P. Morgan Securities LLC is acting as joint bookrunner for the offering.
When available, copies of the preliminary prospectus related to the offering may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014, via telephone: 1-866-718-1649 or via email: email@example.com; Goldman Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: 1-866-471-2526 or via email: firstname.lastname@example.org; and J.P. Morgan Securities LLC, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, via telephone: 866-803-9204.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Citizens Financial Group is the 13th largest retail bank holding company in the United States according to SNL Financial with $122.2 billion of total assets as of December 31, 2013. Headquartered in Providence, Rhode Island, and with approximately 18,600 employees, CFG delivers a broad range of retail and commercial banking products and services through approximately 1,370 branches and more than 3,500 ATMs operated in a 12-state footprint across the New England, Mid-Atlantic and Midwest regions; and through online, telephone and mobile banking platforms. CFG has over 80 retail and commercial non-branch offices located both in its geographic footprint and in five states and the District of Columbia outside its branch footprint. Its two bank subsidiaries are Citizens Bank, N.A., and Citizens Bank of Pennsylvania. They operate a branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont; and the Charter One brand in Illinois, Michigan and Ohio.