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Converting all private preferred shares into common stock raises about $ 45 bn.

将私人优先股全部转换为普通股可筹得约450亿美元.

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The government converted its preferred shares into common stock at $ 3.25 a share.

美国政府是以每股3.25美元的价格将所持的花旗优先股转化为普通股的.

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That's because holders of preferred shares can demand their money back before holders of common stock.

这是因为优先股持有者可以在普通股持有者之前要求返还他们的钱.

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He also snapped up perpetual preferred shares and warrants of General Electric two weeks later.

两周之后,巴菲特还获得了通用电气(GE)的永久优先股和认股权证.

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