U.S. Treasury to receive 5.75 billion dollars from AIG stock sale

 WASHINGTON, Aug. 6 (Xinhua) -- The U.S. Treasury¹ said on Monday that it expected to receive 5.75 billion U.S. dollars from the latest sale of the American International Group (AIG) stock, 750 million dollars more than initially² estimated, as the underwriters opted³ to buy additional shares.

In a statement, the Treasury said underwriters have exercised their over-allotment option in full to purchase approximately 24.6 million additional shares of AIG common stock at the public offering price of 30.5 dollars per share.

The Treasury announced last week that it had agreed to sell about 163.9 million AIG stock at 30.5 dollars per share with estimated total proceeds of 5 billion dollars. AIG pledged to purchase 3 billion dollars of shares.

The offering is expected to reduce the Treasury's remaining investment in AIG to approximately 24.2 billion dollars, consisting of roughly 871.1 million shares of common stock, and bring the Treasury's stake in AIG down from 61 percent to 53 percent.

At the height of the 2008 financial crisis, the Treasury and the Federal Reserve extended 182 billion dollars to AIG, the cash- trapped insurance company, through the Troubled Asset Relief Program (TARP), a financial bailout program created to prevent a collapse⁴ of the banking⁵ system.

The latest sale is part of the Treasury's ongoing⁶ efforts to wind down the TARP, and so far nearly 83 percent of the 416- billion-dollar funds disbursed⁷ under TARP have already been recovered, the statement said.

1 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

2 initially   

adv.最初，开始

参考例句：

• The ban was initially opposed by the US.这一禁令首先遭到美国的反对。
• Feathers initially developed from insect scales.羽毛最初由昆虫的翅瓣演化而来。

3 opted   

v.选择，挑选( opt的过去式和过去分词 )

参考例句：

• She was co-opted onto the board. 她获增选为董事会成员。
• After graduating she opted for a career in music. 毕业后她选择了从事音乐工作。

4 collapse   

vi.累倒；昏倒；倒塌；塌陷

参考例句：

• The country's economy is on the verge of collapse.国家的经济已到了崩溃的边缘。
• The engineer made a complete diagnosis of the bridge's collapse.工程师对桥的倒塌做了一次彻底的调查分析。

5 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

6 ongoing   

adj.进行中的，前进的

参考例句：

• The problem is ongoing.这个问题尚未解决。
• The issues raised in the report relate directly to Age Concern's ongoing work in this area.报告中提出的问题与“关心老人”组织在这方面正在做的工作有直接的关系。

7 disbursed   

v.支出，付出( disburse的过去式和过去分词 )

参考例句：

• In the 2000—2008 school year, $426.5 million was disbursed to 349085 students. 2000至2008学年，共有349085名学生获发津贴，总额达4.265亿元。 来自《简明英汉词典》
• The bank has disbursed over $350m for the project. 银行已经为这个项目支付了超过3.5亿美元。 来自辞典例句