AIG and the U.S. Department of the Treasury are selling 300 million shares of AIG’s common stock at $2.50 per share. Out of the total, 100 million will be issued and sold by AIG and 200 million shares will be sold by the selling shareholder.
AIG will use the proceeds from the sale to partially fund its previously disclosed litigation settlement and for general corporate purposes. Barclays Capital, Citi, Credit Suisse Securities (USA), Macquarie Capital, Morgan Stanley, UBS Investment Bank and Wells Fargo Securities are the joint book-runners for the offering.
Click here for the release from AIG.