Market Overview

AIG Prices 1.65B Shares of AIA Group Limited at US$3.91/Share

American International Group (NYSE: AIG) announced today that it
has priced the sale in Hong Kong of approximately 1.65 billion ordinary
shares of AIA Group Limited (AIA) by means of a placing to certain
institutional investors. This represents all of the AIA ordinary shares
owned by AIG.

Upon the closing of the placing, which is scheduled for December 20,
2012, in Hong Kong, and is subject to customary closing conditions, AIG
will receive gross proceeds of approximately US$6.45 billion, based upon
a purchase price of HK$30.30 (approximately US$3.91) per share. AIG
expects to use the net proceeds from the placing of AIA ordinary shares
for general corporate purposes.

See full press release

Posted-In: News Guidance Contracts Asset Sales Management Global

 

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