AIA Group Shares Halted From Trading Pending Major-Shareholder Placement
04 Marzo 2012 - 6:50PM
Noticias Dow Jones
Shares of AIA Group Ltd. (1299.HK) were suspended from trading
Monday pending an announcement about major shareholder American
International Group Inc.'s (AIG) potential share placement, the
insurance company said.
Largest shareholder American International Group Inc. (AIG) is
seeking to sell "a significant proportion" of its shares in the
Hong Kong-listed insurance company and is expected to use the
proceeds to reduce its debt to the U.S. Department of the Treasury,
AIA Group said in a statement.
U.S.-based AIG, which currently holds 32.89% of AIA Group,
expects the pricing of the placement no later than Tuesday, adding
that trading in AIA Group's shares will resume no later than
Wednesday.
-By Joanne Chiu, Dow Jones Newswires; 852-2802-7002;
joanne.chiu@dowjones.com
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