AIG share offer

Global insurance company American International Group Inc and the federal government are offering to sell a total of 300 million AIG shares to the public.

AIG and the government did not specify a price for the shares in a regulatory filing on Wednesday.

But 300 million shares of AIG were worth about US$8.89 billion at Tuesday's closing price of US$29.62.

Bank of America Merrill Lynch, Deutsche Bank Securities, Goldman, Sachs & Company and J.P. Morgan Securities LLC are serving as joint global coordinators for the stock offering.

Barclays Capital, Citi, Credit Suisse Securities (USA) LLC, Macquarie Capital, Morgan Stanley, UBS Investment Bank and Wells Fargo Securities are the offering's joint bookrunners.