Share “Treasury prices $5B sale of AIG stock”

Treasury prices $5B sale of AIG stock

Associated Press Published: May 6, 2012
Advertisement

NEW YORK (AP) — The Treasury Department is selling $5 billion worth of stock in bailed-out insurance giant American International Group Inc. for $30.50 per share.

AIG will buy about $2 billion worth of the stock. The remaining $3 billion will be offered to investors in a public offering. The government may sell another 24.6 million shares if there's demand for the stock.

Treasury has owned a majority of AIG since the 2008 financial crisis. AIG, based in New York, received the biggest bailout of any single company, worth a total of $182 billion.

This is Treasury's third sale of AIG shares. After the sale, Treasury will have a 63 percent stake in AIG stock.

AIG shares closed Friday at $32.83.


AROUND THE WEB

  1. 1
    Tennessee defensive lineman Andrew Butcher arrested
  2. 2
    Pope Francis to allow priests to forgive women who had abortions
  3. 3
    26 pictures that will make you want to visit Machu Picchu
  4. 4
    Couple who quit ad agency jobs to travel the world end up scrubbing toilets
  5. 5
    Kentucky Clerk Denies Marriage Licences 'under God's authority'
+ show more

FEATURED JOBS



× Trending news Article