Global insurance company American International Group Inc. and the federal government are offering to sell a total of 300 million AIG shares to the public.
AIG and the government didn't specify a price for the shares in a regulatory filing on Wednesday. But 300 million shares of AIG were worth about $8.89 billion at Tuesday's closing price of $29.62.
The sale would be a big step by the government to disentangle itself from AIG after spending billions of dollars on its rescue of insurance company at the height of the financial crisis in 2008.
The Treasury Department owns about 92 percent of AIG. Treasury officials have said they expect to recoup the full bailout amount of the bailout.
The filing says AIG is offering 100 million shares for sale and the Treasury is offering 200 million shares.
AIG, Treasury Offer to Sell 300 Million Shares to Public