Arab Today, arab today us treasury to raise 575 bn in aig share sale
Last Updated : GMT 09:09:51
Arab Today, arab today
Arab Today, arab today

US Treasury to raise $5.75 bn in AIG share sale

Arab Today, arab today

Arab Today, arab today US Treasury to raise $5.75 bn in AIG share sale

Washington - AFP

The US Treasury Department said Monday it expected to raise $5.75 billion in the sale of American International Group stock, after underwriters pledged to buy additional shares. The Treasury, which has been winding down its 2008-2009 financial crisis bailouts, announced Friday a public offering of AIG stock that it estimated would bring in $5 billion, of which $3 billion would be from AIG\'s purchase. The underwriters in the stock offering were given a 30-day over-allotment option to purchase about 24.6 million additional shares of AIG common stock. \"The underwriters have exercised their over-allotment option in full to purchase approximately 24.6 million additional shares of AIG common stock at the public offering price of $30.50 per share,\" the Treasury said in a statement. Treasury estimated the expected proceeds from the sale of 188.5 million shares at $5.75 billion. The sale will reduce the Treasury\'s common-share stake in AIG to 53 percent from 61 percent. AIG shares were up 3.0 percent at $32.29 in afternoon New York trade, topping overall market gains. AIG, once the world\'s largest insurance company, was closely involved in the risky derivatives at the center of the 2008-2009 financial crisis. The Treasury and the Federal Reserve rescued it from bankruptcy with a record $182 billion bailout. AIG has sold off huge assets as it restructured itself back to a path of profitability, buying back taxpayer-funded shares along the way. On Thursday, AIG reported second-quarter profit surged 27 percent from a year ago to $2.3 billion, almost double expectations, while sales fell less than estimated. In the April-June quarter, AIG bought $2 billion of its shares from the Treasury and $6.1 billion in shares from the Federal Reserve. The Fed announced in mid-June that AIG had repaid its rescue loan.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us treasury to raise 575 bn in aig share sale Arab Today, arab today us treasury to raise 575 bn in aig share sale

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us treasury to raise 575 bn in aig share sale Arab Today, arab today us treasury to raise 575 bn in aig share sale

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Prayers turn to nightmare

GMT 06:14 2017 Sunday ,22 October

Prayers turn to nightmare
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday