AIG Announces US Dept of Treasury Launch of Offering to Sell $18B of AIG Common Stock
American International Group, Inc. (NYSE: AIG) today announced that the
U.S. Department of the Treasury (Treasury) has launched an offering of
$18 billion of its AIG common stock, par value $2.50 per share (AIG
Common Stock). Treasury will also grant a 30-day option to the
underwriters for the offering to purchase up to an additional $2.7
billion of AIG Common Stock to cover over-allotments, if any.
In connection with Treasury's offering, AIG has indicated to Treasury
that it intends to purchase up to $5 billion of AIG Common Stock in the
offering, at the initial public offering price, pursuant to a previously
announced authorization granted by the AIG Board of Directors.
Citigroup, Deutsche Bank