Monday, May 18, 2009
AIG launches IPO process for Asia crown jewel
AIG is to speed up plans to list its Asian subsidiary through an IPO that could raise more than $4 billion, as the bailed-out U.S. insurer seeks to raise cash to pay back government loans.
The IPO would help AIG repay some of the $180 billion the U.S. government has plowed into what was once the world's biggest insurer, and allow the profitable Asia life insurance subsidiary, American International Assurance Co Ltd (AIA), to break from its ailing parent.
The at least $4 billion initial public offering, based on targets set by AIG executives, would make it the largest Hong Kong IPO since China Citic Bank Corp (0998.HK) raised $4.2 billion in April 2007, according to Thomson Reuters data...
Reuters: AIG launches IPO process for Asia crown jewel
The IPO would help AIG repay some of the $180 billion the U.S. government has plowed into what was once the world's biggest insurer, and allow the profitable Asia life insurance subsidiary, American International Assurance Co Ltd (AIA), to break from its ailing parent.
The at least $4 billion initial public offering, based on targets set by AIG executives, would make it the largest Hong Kong IPO since China Citic Bank Corp (0998.HK) raised $4.2 billion in April 2007, according to Thomson Reuters data...
Reuters: AIG launches IPO process for Asia crown jewel
Permalink posted by markw @ 8:22 AM 
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