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AIG: Waiting for the Pricing

Everyone waiting for AIG to price after the close. They're floating about 15 percent of the company: 200 million shares from the government, 100 million from the company.

The price? The government's break-even is $28.70; everyone seems to agree they will price above that.

The bigger problem, for fundamental holders, is the float — a little over 20 percent of the company — still is not big enough. Why didn't they float more? Obviously there was some concern that they would overwhelm the market, and/or that they couldn't get above the $28.70 price.

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