- AIG's ( NYSE: AIG ) life insurance and retirement unit Corebridge Financial ( NYSE: CRBG ) raised $1.68B on Wednesday in what is said to be the biggest IPO so far this year.
- AIG, as the selling stockholder, offered 80M existing shares of Corebridge ( CRBG ) common stock at $21/share.
- The underwriters have been granted a 30-day option to purchase up to an additional 12M shares of Corebridge common stock.
- Gross proceeds from the offering are estimated to be ~1.7B. The offering is expected to close on Sept. 19, 2022.
- The shares will trade on the NYSE under the ticker symbol "CRBG."
For further details see:
AIG's Corebridge unit raises ~1.7B in IPO