The FDIC wants to sell 57.5 million...

The FDIC wants to sell 57.5 million shares of its stock in Continental Illinois Corp., a move that would put a majority of stock in the hands of the public for the first time since 1984, the company said. Continental Illinois, the parent of Continental Illinois N1635019119FDIC to notify the SEC about the public offering. Last month, Continental Illinois filed an SEC statement saying it would buy 4.7 million shares held by the Federal Deposit Insurance Corp. for an employee stock ownership plan. FDIC will receive all the money from the stock sales.