AIG Seeks Listing Committee Approval for AIA IPO

Before you go, we thought you'd like these...
Before you go close icon
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

S&P 500 2,343.98 -1.98 -0.08%
DJIA 20,596.72 -59.86 -0.29%
NASDAQ 5,828.74 11.04 0.19%
DAX 12,064.27 24.59 0.20%
NIKKEI 225 19,262.53 177.22 0.93%
HANG SENG 24,358.27 30.57 0.13%
USD (per EUR) 1.08 0.00 0.15%
USD (per CHF) 0.99 0.00 0.02%
JPY (per USD) 111.32 0.34 0.30%
GBP (per USD) 1.25 0.00 -0.33%

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips 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.

From Our Partners