The U.S. Treasury said on Monday it expects to raise $18 billion from its sale of American International Group shares, representing a profit of $12.4 billion to date on the Treasury and Federal Reserve’s investment in the insurer.
The Treasury priced the offering at $32.50 a share, above the $28.72 needed for the government to break even on its investment in the company.
This is the fourth and largest tranche the Treasury has sold above the break-even price. After the sale closes, the Treasury and the Federal Reserve will recover a total of $194.7 billion from the combined investment of $182.3 billion.
Copyright 2013 Reuters. Click for restrictions.
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