NEW YORK (AP) — 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.

AIG's shares rose $1.75, or 5.9 percent, to $31.37 in morning trading.

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