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.