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AIG Revives Life Unit Corebridge’s $1.9 Billion US IPO

  • Insurer to raise as much as $1.9 billion selling shares
  • Deal would end longest IPO drought in more than two decades
Updated on

American International Group Inc. said it will move ahead with plans to raise as much as $1.9 billion selling shares in its life and retirement unit.

The insurer will offer 80 million shares in Corebridge Financial Inc. at $21 to $24 apiece in a proposed initial public offering, according to a statement Tuesday. The listing was slated for earlier this year before it was delayed amid a market downturn.