AIG Announces Launch of Secondary Offering of Corebridge Financial Common Stock; Offering 65M Existing Shares Of Common Stock Of Corebridge
Portfolio Pulse from Benzinga Newsdesk
AIG has announced the launch of a secondary offering of 65 million existing shares of Corebridge Financial's common stock.
June 05, 2023 | 8:13 pm
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NEUTRAL IMPACT
AIG is launching a secondary offering of 65 million existing shares of Corebridge Financial's common stock.
AIG's announcement of the secondary offering of Corebridge Financial's common stock may not have a direct short-term impact on AIG's stock price. However, it shows AIG's intention to monetize its investment in Corebridge, which could be seen as a positive move by investors.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
AIG is offering 65 million existing shares of Corebridge Financial's common stock in a secondary offering.
The secondary offering of 65 million existing shares of Corebridge Financial's common stock by AIG may lead to a short-term negative impact on CRBG's stock price. The increased supply of shares in the market could put downward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100