The U.S. Department of the Treasury will offer $18 billion of its common stock in American International Group Inc. (AIG) at $2.50 per share and will grant a 30-day option to the underwriters to purchase an additional $2.7 billion of the stock to cover any over allotments, according to a press release from Treasury. The sale will reduce Treasury’s holdings in the company by half, reducing the government to a minority shareholder.
Treasury said AIG will purchase up to $5 billion of the stock at the initial public offering price, as previously announced and authorization by the AIG board of directors.
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