September 10, 2012 / 11:43 PM / 5 years ago

AIG shares price at $32.50 in secondary offering

The logo of American International Group Inc. (AIG) on the outside of their corporate headquarters in New York, November 10, 2008. REUTERS/Mike Segar

(Reuters) - A secondary offering for American International Group Inc shares by the U.S. Treasury Department was priced at $32.50 per share on Monday evening, according to an underwriting source.

The Treasury Department said on Sunday it would sell $18 billion worth of shares in the bailed-out insurer and set aside another $2.7 billion worth of shares to cover overallotments.

Reporting by Olivia Oran; Editing by Gary Hill

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