UPDATE 1-AIG says completed stock, unit sales
(Adds NEW YORK dateline, new throughout)
NEW YORK, May 16 (Reuters) - American International Group Inc (AIG.N: Quote, Profile, Research, Stock Buzz), the global insurance giant, said on Friday it completed the sale this week of 196.7 million common shares at $38 a share and sold 78.4 million equity units at $75 a unit, raising more than it originally planned.
Earlier this week AIG announced it would offer $11.9 billion in stock and equity units to bolster a balance sheet hit by subprime mortgage related losses.
Based on the transaction totals disclosed Friday in a Securities and Exchange Commission filing, AIG sold nearly $13.4 billion of stock and equity units. (Reporting by Joseph A. Giannone; Editing by Tim Dobbyn)
© Thomson Reuters 2008 All rights reserved
Help us advance this story. Provide relevant links or share your insights using our comment box. Please be considerate and help us by reporting any abuse you find. Reuters will delete comments that don't meet community standards.
Have a correction to this article? Email the editors
Defiant Cafe Leopold reopens