AIG IPO Set Up Oddly (AIG)

Details of the AIG AIG "re-IPO" are emerging, and it's much different than most offerings. The offering has four book runners, whereas usually there is one or two lead banks on an offering. Not in this case. Bank of America BAC, J.P. Morgan JPM, Deutsche Bank DB and Goldman Sachs GS are all book runners in this case. What isn't known at this point is if any of the four will be a lead bookrunner and get a "higher than high" spot, but for now, it's a weird situation that is worth watching as the U.S. Treasury sells its stake in the embattled insurer. Shares of AIG lost 83 cents today to close at $53.17, a loss of 1.5%.