American International Group, Inc. (AIG: Quote) announced that the U.S. Department of the Treasury has launched an offering of $4.5 billion of its AIG common stock, par value $2.50 per share. The Treasury will also grant a 30-day option to the underwriters for the offering to purchase additional shares to cover over-allotments, if any.
The company said, in connection with Treasury's offering, that 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 by the AIG Board of Directors to purchase up to $3 billion of AIG Common Stock.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman, Sachs & Co., and J.P. Morgan Securities LLC have been retained as joint bookrunners for the offering.
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by RTT Staff Writer
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