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AIG Announces Completion of the U.S. Department of the Treasury Offering of AIG Common Stock
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NEW YORK--(BUSINESS WIRE)--Aug. 8, 2012-- American International Group, Inc. (NYSE: AIG) announced today the completion of a registered public offering (the “Offering”) of 188,524,590 shares of AIG common stock, par value $2.50 per share (“AIG Common Stock”) by the U.S. Department of the Treasury (“Treasury”) as the selling shareholder. The number of shares sold in the Offering included 24,590,164 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 98,360,656 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 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.

Treasury had previously announced that in addition to principal repayments, the Federal Reserve Bank of New York (the “Federal Reserve”) and Treasury have also received additional income beyond that from interest, fees, and other gains totaling approximately $14 billion, including approximately $13 billion from the Federal Reserve’s investment and approximately $1 billion from Treasury’s investment.

American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.

Source: American International Group, Inc.

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