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Provider: Reuters Investment Profile
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American International Group Inc Announces Pricing of Sale of Entire Remaining Stake in AIA Group Limited

Monday, 17 Dec 2012 07:34pm EST 

American International Group Inc announced that it has priced the sale in Hong Kong of approximately 1.65 billion ordinary shares of AIA Group Limited (AIA) by means of a placing to certain institutional investors. This represents all of the AIA ordinary shares owned by AIG. Upon the closing of the placing, which is scheduled for December 20, 2012, in Hong Kong, and is subject to customary closing conditions, AIG will receive gross proceeds of approximately USD6.45 billion, based upon a purchase price of HKD30.30 (approximately USD3.91) per share. AIG expects to use the net proceeds from the placing of AIA ordinary shares for general corporate purposes. 

Company Quote

-0.35 -0.81%
30 Oct 2014