American International Group Inc. (AIG) announced the completion of a registered public offering of about188.52 million shares of AIG common stock, par value $2.50 per share by the U.S. Department of the Treasury as the selling shareholder.
The number of shares sold in the Offering included about 24.59 million shares sold pursuant to the exercise in full of the underwriters' option to purchase additional shares of AIG Common Stock to cover over-allotments.
AIG said it purchased about 98.36 million shares of AIG Common Stock in the Offering at the public offering price of $30.50 per share for an aggregate purchase amount of approximately $3.0 billion. Treasury received proceeds of approximately $5.75 billion from the sale of AIG Common Stock in the Offering.
The company said that the offering reduced Treasury's remaining investment in AIG to approximately 871.1 million shares of common stock and reduced Treasury's percentage ownership of AIG's outstanding shares of common stock from 61 percent to approximately 53 percent. Since May 2011, Treasury has sold approximately 784 million shares of AIG Common Stock for total proceeds of approximately $23.3 billion.
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