BANKING

Citicorp to Discount Stock to Shareholders: In a new effort to raise capital, the nation’s largest banking company will offer its stockholders common stock at a discount next month. Shareholders will be offered a 2.5% discount from the market price. Citicorp’s stock closed unchanged Wednesday on the New York Stock Exchange at $20.25 a share. Citicorp has been selling assets and cutting costs to boost its capital. Analysts’ estimates of its capital needs range from $2 billion to more than $5 billion. Under the plan, Citicorp stockholders would deposit money in the bank to buy shares. Cash deposits for the Aug. 19 sale must be received by July 31, but the company said the sale will be followed by others.