(By Balaseshan) American International Group Inc. (NYSE:AIG) said the U.S. Department of the Treasury completed sale of 188.52 million shares of AIG common stock under the registered public offering.
Treasury, as the selling shareholder, sold 188.52 million shares of AIG common stock, par value $2.50 per share, at the public offering price of $30.50 per share.
The offering reduced Treasury's balance investment in AIG to about 871.1 million shares of common stock and reduced Treasury's percentage ownership of AIG's outstanding shares of common stock from 61% to about 53%.
Since May 2011, Treasury has sold about 784 million shares of AIG common stock for total proceeds of about $23.3 billion.
The number of shares sold in the offering included 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 purchased 98.36 million shares of AIG common stock in the offering at the public offering price of $30.50 per share for about $3.0 billion. Treasury received proceeds of about $5.75 billion from the sale of AIG common stock in the offering.
Previously, Treasury had said in addition to principal repayments, the Federal Reserve Bank of New York and Treasury have also received additional income beyond that from interest, fees, and other gains totaling about $14 billion, including about $13 billion from the Federal Reserve's investment and about $1 billion from Treasury's investment.
AIG closed Wednesday's regular session up 0.09% at $32.38. The stock has been trading between $19.18 and $35.05 for the past 52 weeks.