AIG Seeks Listing Committee Approval for AIA IPO

American International Group (AIG) is seeking Hong Kong listing committee approval on Sept. 21 for the IPO of its Asian life insurance unit, Reuters reported.

The date is earlier than expected, which could mean that the IPO of the company's AIA unit will come in October, rather than November, Reuters reported without naming its sources.

Last week, AIG filed an application to list AIA. Normally, a listing committee hearing would take place about four weeks after the application.

AIG hopes to raise about $15 billion through the AIA IPO. Earlier this year, AIG tried to sell the unit to Prudential Plc for $35.5 billion.

The company also considered selling a strategic stake in the unit ahead of the IPO, but has since scrapped the idea.


Read Full Story

Markets

DJIA 21,611.78 -28.97 -0.13%
NASDAQ 6,390.00 4.96 0.08%
S&P 500 2,473.45 -0.38 -0.02%
NIKKEI 225 20,144.59 123.73 0.62%
HANG SENG 26,740.21 68.05 0.26%
DAX 12,447.25 -4.80 -0.04%
USD (per EUR) 1.16 0.01 0.92%
USD (per CHF) 0.95 0.00 -0.39%
JPY (per USD) 111.84 -0.03 -0.03%
GBP (per USD) 1.30 -0.01 -0.43%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.