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AIA gets OK to list stock

first_img KCS-content BAILED-OUT insurer AIG has won permission to list shares in its Asian life insurance unit AIA on the Hong Kong stock exchange. AIG is thought to be aiming to start trading shares on 29 October, with a view to raising up to $15bn (£9.6bn). AIG, which is nearly 80 per cent owned by the US government, is disposing of assets to repay taxpayers who committed $182.3bn to prop up the insurer during the financial crisis. President and chief executive Robert Benmosche said last month when the firm paid back $4bn of US loans: “AIG is getting stronger every day. We still have more work to do, but we will finish the job and make sure we repay the American taxpayers.”AIG declined to comment on the share listing, while AIA, which is based in Hong Kong, was not available for comment yesterday. The initial public offering (IPO) comes after AIG tried and failed to sell the business earlier this year to Prudential for $35.5bn. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Share whatsapp whatsappcenter_img AIA gets OK to list stock by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Tuesday 21 September 2010 8:19 pm Show Comments ▼ Tags: NULLlast_img read more