AIG To Raise US$6 Billion In AIA Share Placement - Term Sheet
04 Marzo 2012 - 8:05PM
Noticias Dow Jones
American International Group Inc. (AIG) is raising about US$6
billion selling 1.7 billion shares in insurance company AIA Group
Ltd. (1299.HK), according to a term sheet seen by Dow Jones
Newswires, as the U.S.-based company plans to further reduce its
debt to the U.S. government.
AIG, which currently holds 32.89% of AIA Group, is selling AIA
Group shares at HK$27.15 to HK$27.50 each, representing a 5.8% to
7.0% discount to its closing price Friday of HK$29.20.
There is a lock up of six months on AIG's remaining AIA Group
shares.
Shares of AIA Group were suspended from trading Monday pending
an announcement about major shareholder AIG's potential share
placement, the insurance company said.
-By Prudence Ho, Dow Jones Newswires; 852-2802-7002;
prudence.ho@dowjones.com
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