The strength of interest in American International Group (AIG) stock was further displayed when the Treasury announced after the market closed last night that underwriters had exercised their over-allotment option on the 163.9 million shares of AIG held by Treasury that it was selling.
Treasury officials announced on Friday night their plans to reduce its holdings of AIG stock in a public underwriting that would begin Monday.
Later in the day, the Government Accountability Office (GAO) projected in an update that the Treasury could ultimately make up to $15.1 billion on its investment in AIG.
The analysis was based on recent sales of stock in AIG subsidiaries being divested as well as in facilities held by the Treasury and the Fed secured by securities owned by AIG.
However, that projection was based on selling the 70 percent of AIG stock held by the Treasury at $30.83 a share.
The shares sold Monday by the Treasury were for $30.50 a share.
