Bloomberg reports that the U.S. Treasury will sell its remaining stake in AIG, the insurer that was partly nationalized during the depths of the financial crisis.
The Treasury will sell 234.2 million shares in AIG, which amounts to roughly 15 percent of the total shares outstanding.
At today's closing price of $33.36 a share, 234.2 million shares represents a $7.8 billion position in the stock.
Shares are selling off in after hours trading.
More From Business Insider
- JEFFERIES: The iPhone 5S Is Coming Next June In 6-8 Colors
- Business Insider's Ultimate Gift Guide
- Goldman's Top Economist Explains The World's Most Important Chart, And His Big Call For The US Economy
- Investment & Company Information