AIG added as cornerstone to PICC HK IPO with $500 mln pledge-sources

HONG KONG Wed Nov 21, 2012 2:49am EST

HONG KONG Nov 21 (Reuters) - American International Group Inc has pledged $500 million to Chinese state insurer PICC Group's up to $3.6 billion Hong Kong IPO, sources with direct knowledge of the matter told Reuters on Wednesday.

AIG was added to a list of 16 investors that initially signed up, taking the total cornerstone commitments to $1.85 billion towards People's Insurance Company (Group) of China's Hong Kong offer, set to the biggest IPO in the city for two years.

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