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News Breaks | | | | December 17, 2012 | | 19:36 EDT |  | AIG | AIG prices entire remaining stake of AIA Group
American International Group announced that it has priced the sale in Hong Kong of approximately 1.65B ordinary shares of AIA Group Limited 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 in Hong Kong, and is subject to customary closing conditions, AIG will receive gross proceeds of approximately $6.45B, based upon a purchase price of HK$30.30, approximately $3.91, per share. AIG expects to use the net proceeds from the placing of AIA ordinary shares for general corporate purposes. | |
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