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
Consumers spent less in July than in the previous month, a surprise retreat that complicates the prevailing belief that the U.S. economic situation is improving. Along with the unexpected drop in spending, government figures released on Friday showed that incomes rose at a slower pace in July than in the previous month. Meanwhile, data on prices indicated that inflation pressures remain tame. India's economy grew faster-than-expected in the three months to June and at the strongest pace in two years, preliminary figures from the Central Statistics Office revealed Friday. Gross domestic product grew 5.7 percent in the April to June quarter, which exceeded economists' forecast for 5.5 percent expansion. The economy grew 4.6 percent in the previous three months. Eurozone inflation slowed as expected in August on falling energy prices giving room for the central bank to support demand and economic recovery without stoking inflation and help the region to create more jobs. The unemployment rate remained unchanged at an elevated level in July. Nonetheless, it was at the lowest since September 2012.
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.