US-based insurance company American International Group Inc AIG has appointed Deutsche Bank and Morgan Stanley as global coordinators for the forthcoming initial public offering of its Asian life insurance unit, American International Assurance Company AIA, according to sources familiar with the selection process. The pair is expected to be joined by one or two more international banks and perhaps one China-based investment bank as bookrunners, but these will be announced later, the sources said.
The job of bringing AIA to market has been hotly contested in recent weeks as the deal could be the largest IPO in Asia since April 2007 when China Citic Bank raised $5.9 billion from a dual listing in...
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