Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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

RELATED NEWS
Trade AIG now with 

American International Group, Inc. (AIG: Quote) 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.

Click here to receive FREE breaking news email alerts for American International Group, Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
After initially showing a lack of direction, stocks have moved mostly higher over the course of the trading day on Friday. With the gains on the day, the markets are extending the upward trend seen over the past several sessions. In another troubling sign for Democrats, the results of a Gallup poll released on Friday show that Tea Party Republicans are much more motivated to vote in the upcoming midterm elections than other Americans. The poll found that 73 percent of Tea Party Republicans are "extremely" or "very" motivated to vote in this year's elections. While the Commerce Department released a report on Friday showing a modest increase in new home sales in the U.S. in the month of September, the uptick came from a significantly downwardly revised level in August.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.