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AIG unit CoreBridge raises $1.7 billion in year’s largest IPO
2022.09.14 18:36
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© Reuters. FILE PHOTO: The AIG logo is seen at its building in New York’s financial district March 19, 2015. REUTERS/Brendan McDermid//File Photo
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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