NU Online News Service, May 11, 1:21 p.m. EDT
American International Group Inc. (AIG) and the U.S. Department of the Treasury say they plan to offer a small portion of stock for an unset price in an effort to better understand the underlying value of the bailed-out insurer.
The offering of 300 million shares is valued at nearly $9 billion, based on the current price of AIG's stock, which closed at $29.62 on Tuesday. Shares were selling at about $30.50 this afternoon.
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