American International Group AIG early this morning raised HK$46.7 billion $6 billion from the sale of close to half its remaining stake in pan-Asian life insurer AIA through a block trade that was priced at the maximum 7% discount. The deal came as AIA has gained 20% so far this year and after the stock closed level with its record high of HK$29.55 on Tuesday last week.
Even so, the offering attracted a lot of interest both from existing shareholders seeking to increase their exposure and new long-only guys, and according to a source the total demand reached about $9 billion. Other sources said some orders were as...
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