AIG unit CoreBridge raises $1.7 billion in year’s largest IPO

By Echo Wang

NEW YORK (Reuters) – AIG Inc (NYSE:)’s life insurance and retirement division CoreBridge Financial Inc raised $1.7 billion on Wednesday in the biggest initial public offering (IPO) so far this year, braving market volatility and ending a seven-month lull in major listings.

AIG said it sold 80 million CoreBridge shares at $21 per share, which was at the lower end of their indicated target range of $21 to $24 per share.

The IPO values CoreBridge at $13.6 billion.

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