NU Online News Service, Aug. 6, 2:53 p.m., EDT

Strong investor demand for American International Group stock is allowing the Treasury Department to reduce its ownership in the insurer to 53 percent from 61 percent.

Monday afternoon, Treasury officials say that underwriters exercised their option to increase the size of the initial public offering by 750,000 shares, translating into the total purchase of approximately 24.6 million additional shares of AIG common stock at the public offering price of $30.50 per share.

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