WASHINGTON - The Federal Reserve's monetary stimulus is helping the U.S. economy recover but the U.S. central bank needs to see further signs of traction before taking its foot off the gas, Fed Chairman Ben Bernanke said on Wednesday.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
Khazanah launches up to $360 million stake sale in AIA: IFR
HONG KONG |
HONG KONG (Reuters) - Malaysia's state investor Khazanah Nasional Bhd KHAZA.UL launched on Wednesday an up to $360 million offering of shares in AIA Group (1299.HK), IFR reported, citing a term sheet of the transaction.
Khazanah, through its Mount Swettenham Investments unit, is offering 92.35 million AIA shares in a range of HK$29.84-HK$30.20 each, equivalent to a discount of up to 1.2 percent to Wednesday's close, added IFR, a Thomson Reuters publication.
The selldown comes ahead of the expiration of a lockup on AIA shares by American International Group (AIG.N) this week, when the U.S. insurer will be free to sell a stake worth $6.4 billion at current market prices.
Bank of America Merrill Lynch was hired as sole bookrunner on the AIA stake sale.
(Reporting by Fiona Lau of IFR and Elzio Barreto; Additional reporting by Clement Tan; Editing by Muralikumar Anantharaman)
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