AIG ( AIG ) has priced the $1.7B initial public offering of its Corebridge Financial ( NYSE: CRBG ) unit at the lower end of its previously announced range.
The insurance company said it plans to offer 80M shares priced at $21 per share, raising $1.7B.
Underwriters will be granted a 30-day option to buy an additional 12M shares. JP Morgan is serving as lead bookrunner.
Shares of Corebridge are expected to begin trading on Thursday on NYSE under the symbol CRBG.
Last week, AIG said that it expected the shares to price between $21 and $24 per share.
For further details see:
AIG prices $1.7B Corebridge Financial IPO at lower end of range