logo
Share SHARE
FONT-SIZE Plus   Neg

U.S. Treasury Launches Offering Of AIG Common Stock - Quick Facts

American International Group, Inc. (AIG) announced that the U.S. Department of the Treasury has launched an offering of its AIG common stock, par value $2.50 per share.

However, the size of the offering was not revealed.

The company stated that the Treasury will also grant an option to the underwriters for the offering to purchase additional shares to cover over-allotments, if any.

AIG added that in connection with Treasury's offering, it has indicated to Treasury that it intends to purchase shares of AIG common stock in the offering, at the initial public offering price, pursuant to an authorization granted today by the AIG Board of Directors to purchase up to $2 billion of AIG common stock.

In March 2012, Treasury sold about $6 billion of its AIG common stock, of which AIG purchased approximately $3 billion.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Electric car maker Tesla Motors Inc. (TSLA), Wednesday reported a loss for the fourth quarter that was narrower than last year. The company said it expects to start volume production of Model 3 by September. Palo Alto, California-based Tesla reported fourth-quarter loss of $121.3 million or $0.78... Canada based Maple Leaf Foods Inc. Wednesday said it has reached a definitive agreement with Brynwood Partner VI L.P. for the acquisition of Lightlife Foods Inc. The deal would be worth $140 million plus other costs. Light is a brand in U.S. for refrigerated plant based protein foods. A hedge fund is an alternative investment fund that uses pooled funds from accredited individuals or institutional investors and invests these funds in different assets with a goal of generating high returns. Hedge funds are generally accessible only to accredited or qualified investors. They cannot...
comments powered by Disqus
Follow RTT