AIG Shares For Sale by Treasury and 2 Hot Stocks Sparking Chatter
San Francisco based Kabam Inc., a closely held company that creates social and mobile games, announced that Warner Brothers Entertainment Inc (NYSE:TWX) and MGM Studios Inc have together invested an undisclosed amount in its capital. Kabam Inc is the creator of the popular “Kingdoms of Camelot” medieval strategy games. According to a spokesperson, Kabam’s gross revenues in 2011 were over $100 million, and have risen by over 50% in the current year.
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Blackstone Group (NYSE:BX) is planning to raise over $2 billion for an Asia property fund that will focus on Japan, China, Australia and India. Tony James, President and COO, had said that, “These are unique products and they’re unique products in an asset class that investors increasingly want. It’s hard assets.”
The US Treasury announces the sale of its remaining holding of 234.17 million shares of American International Group Inc (NYSE:AIG) at $32.50 per share in an underwritten public offering that could raise about $7.6 billion. With this offering, the Federal Reserve and the Treasury have earned a positive return of $22.7 billion on their combined commitment of $182.3 billion to stabilise AIG during the financial crisis.
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