AIG has now begun the initial public offering (IPO) of its majority-owned life and retirement business Corebridge Financial, which will be sold as a separate entity, after delaying the sale last month due to market volatility.
Out of the 645 million common shares in total, AIG, the selling shareholder, is offering 80 million shares of Corebridge.
Additionally, AIG has given the underwriters a 30-day option to buy up to an additional 12 million shares of common stock.
The current expectation for the IPO price per share is between USD 21 and USD 24. AIG will get all of the offering’s net earnings
The ticker sign “CRBG” is anticipated to be used to trade the shares on the New York Stock Exchange.
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