AIG (AIG) Re-IPO Expected to Price at $29-$30
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American International Group (NYSE: AIG) is expected to price its $9 billion "re-IPO" Tuesday, even as traders seem to be resigning to the old mantra "sell in May and go away."
Pricing is expected to fall within a range of $29 - $30 per share. The stock traded in the $29 to $32 range since early May; the U.S. Treasury launched its 300 million share offering on May 11th.
The Wall Street Journal notes bankers have received indications of interest from within the U.S. and abroad which will cover nearly the entire offering.
Sources suggest that of the 300 million shares being sold, 200 million will be from the U.S. government and 100 million will be from AIG. An additional 45 million may be sold by the Treasury upon exercise of an underwriter option.
AIG closed down nearly 2.7 percent to $29.98 Monday.
Pricing is expected to fall within a range of $29 - $30 per share. The stock traded in the $29 to $32 range since early May; the U.S. Treasury launched its 300 million share offering on May 11th.
The Wall Street Journal notes bankers have received indications of interest from within the U.S. and abroad which will cover nearly the entire offering.
Sources suggest that of the 300 million shares being sold, 200 million will be from the U.S. government and 100 million will be from AIG. An additional 45 million may be sold by the Treasury upon exercise of an underwriter option.
AIG closed down nearly 2.7 percent to $29.98 Monday.
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