AIG added as cornerstone to PICC HK IPO with $500 million pledge: sources
HONG KONG (Reuters) - American International Group Inc (AIG.N) 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.
(Reporting by Elzio Barreto and Jing Song of IFR; Editing by Muralikumar Anantharaman)
- Missing jet may have strayed toward Andaman Sea: Malaysian air force |
- NYC buildings explosion kills 2, more missing
- Malaysia military source says missing jet veered to west |
- Exclusive: EU approves framework for asset freezes, travel bans on Russia
- Ukraine appeals to the West as Crimea turns to Russia |