Bloomberg reports that the U.S. Treasury will sell its remaining stake in AIG, the insurer that was partly nationalized during the depths of the financial crisis.
The Treasury will sell 234.2 million shares in AIG, which amounts to roughly 15 per cent of the total shares outstanding.
At today’s closing price of $33.36 a share, 234.2 million shares represents a $7.8 billion position in the stock.
Shares are selling off in after hours trading.
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