AIG Plans US$5 Billion-US$10 Billion Hong Kong IPO For AIA In 1Q 2010 - Source
May 13 2009 - 9:52PM
Dow Jones News
American International Group Inc. (AIG) plans to spin off its
Asian life insurance unit in a US$5 billion-US$10 billion Hong Kong
initial public offering in the first quarter of next year, a person
familiar with the situation said Thursday.
The cash-striken insurer will likely sell 25% to a third of
American International Assurance Co., and maintain majority control
of the operation, the person added.
-By Amy Or, Dow Jones Newswires; 852-2832 2335;
amy.or@dowjones.com