AIG unit Corebridge raises US$1.68b in year''s largest US IPO NEW YORK : AIG Inc''s life insurance and retirement division Corebridge Financial Inc raised US$1.68 billion (RM7.6 billion) on Wednesday (Sept 14) in the biggest initial public offering (IPO) so far this year, braving market volatility and ending a seven-month lull in major listings. AIG said it sold 80 million Corebridge shares at US$21 per share, which was at the lower end of their indicated target range of US$21 to US$24 per share. The IPO values Corebridge at US$13.6 billion. All proceeds of the IPO will go to AIG and the new company is not raising new capital, according to an earlier filing with the US Securities and Exchange Commission. Corebridge’s share sale could help shake the IPO market out of its hibernation. Russia’s invasion of Ukraine and rampant inflation triggering rises in interest rates have been driving stock market volatility since February, making it hard for companies to press ahead with listings. IPOs in the United States are on track for their worst year in over two decades, according to Dealogic, which tracks listing data going back to 1995.