Arab Today, arab today aig raises 645bn in final stake sale of aia
Last Updated : GMT 02:34:28
Arab Today, arab today
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AIG raises $6.45bn in final stake sale of AIA

Arab Today, arab today

Arab Today, arab today AIG raises $6.45bn in final stake sale of AIA

Hong Kong - AFP

US insurance giant American International Group (AIG) has raised $6.45 billion from the sale in Hong Kong of its final stake in AIA, marking its exit from the firm, the Asian insurer said Tuesday. AIG sold its 13.69 percent stake, or 1.65 billion shares, in the firm near the top end of its indicative price range at HK$30.30 ($3.90) per share, AIA said in a statement. \"This latest divestment of the remaining holding is noteworthy in AIA\'s history since it marks the end of AIG\'s shareholder interest in AIA,\" AIA group chief executive Mark Tucker said. He said the sale was \"one of Asia\'s largest-ever secondary placements\". However, in early Hong Kong trade AIA shares fell 0.79 percent to HK$31.40, although they are still above the price at which the US firm sold up. The US company has sold AIA shares twice this year, raising a total of $8 billion.

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