US Treasury launches $18 bln AIG stock offering
NEW YORK, Sept 9
NEW YORK, Sept 9 (Reuters) - The Treasury Department on Sunday said it has launched a public offering of $18 billion of its common stock in American International Group Inc.
AIG has indicated that it intends to purchase up to $5 billion of the common stock held by the U.S. Treasury in this offering at the initial public offering price, the department said in a statement.
Treasury will also grant to the underwriters in this offering a 30-day option to purchase up to an additional $2.7 billion in common stock from Treasury to cover any over-allotments.
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