A block of shares in Hong Kong-listed AIA Group was up for sale last night, but it didn’t come from American International Group. The US insurance company still owns 13.7% of AIA, which it will be free to sell after its latest lockup expires this week.
This deal was significantly smaller than what AIG is expected to bring its entire remaining stake is currently valued at $6.4 billion but that didn’t mean it attracted any less interest. In fact, halfway through the bookbuilding a source described the response as a “blow-out”. And that was despite the fact that it was offered at a tight discount.
The...
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