05:40 PM EDT, 05/30/2024 (MT Newswires) -- American International Group ( AIG ) said late Thursday it has launched a secondary offering of 30 million shares of Corebridge Financial ( CRBG ) , with Morgan Stanley as the underwriter for the offering.

AIG has granted a 30-day option to the underwriter to purchase up to an additional 4.5 million shares.

Last week, AIG agreed to sell a 20% stake of Corebridge to Nippon Life Insurance for $31.47 per share.