NEW YORK (Reuters) - Shares of American International Group Inc fell 2.3 percent on Wednesday after the insurer and the Treasury sold $8.7 billion worth of stock.
The shares were at $28.32 in early trade on the New York Stock Exchange.
AIG and Treasury sold 300 million shares for $29 each on Tuesday. Of the 300 million shares sold on Tuesday, Treasury sold 200 million. It cut its stake in AIG to 77 percent from 92 percent, but still has 1.5 billion shares left to sell to fully exit its investment.
Underwriters on the offering were lead by Bank of America Merrill Lynch, Deutsche Bank Securities, Goldman Sachs & Co and JPMorgan.
(Reporting by Clare Baldwin; Editing by Derek Caney)
