American International Group Inc. says it wants to sell 171 million new shares of common stock to the public and may sell another 26 million shares to the underwriters.
AIG, New York, says it hopes to raise $6.5 billion by selling the main allotment of stock, for $38 per share, and could raise another $1 billion if the underwriters buy the “over-allotment” stock.
The underwriters, units of Citigroup Inc., New York, and JPMorgan Chase & Company, New York, have 13 days to decide whether to buy 6.4 million equity units to cover over-allotments, AIG says.