AIG Asia unit listing to raise up to $20 bn: report
Troubled insurance giant American International Group is in advance stages to list its Asian life insurance unit on the Hong Kong stock exchange next year, in a move to raise up to $20 billion, says a media report. - Wall Street fat cats see frugal compensation diet in "09 - Insurers push accident cover sale to schools - Kaiga nuclear leak: Investigators zero on five employees - AIG is too large and needs to shrink: Benmosche - Where do I begin? - US limits executives pay to $500,000 at 4 bailed-out firms AIG is in advanced preparations for a listing of American International Assurance (AIA), in an attempt raise billions of dollars that would be used to start repaying the more than $80 billion that the company owes the US government, the "Financial Times" reported. The daily said that listing of AIA is expected to raise between $10 billion and $20 billion. The planned listing of AIA may help AIG to repay the debts it owes to the US government. Attributing to people familiar with the matter, the report said it expect AIA to file a draft prospectus with stock exchange authorities before the Christmas triggering a formal three-month process that would set the path for a listing in the second quarter of 2010. "AIA and its advisers are working round the clock to submit the filing before Christmas," the report, citing one person familiar with the matter, said, adding "Nobody involved wants this to hang around for much longer." AIG Chief Executive Officer Robert Benmosche told the "Financial Times" earlier this week that the listing of AIA was one of his top priorities. He said he expected the Asian division to be listed by the end of 2010.Mypayday commented:
If they will be able to raise this much money then it will be really gud for them as they wil be then having a gud market share
31.08.2011
Payday uk commented:
Hoping such growth must take place.It will help in improving their national economy assets too.Thanks for such updated news.
12.10.2011
Payday uk commented:
Hoping such growth must take place.It will help in improving their national economy assets too.Thanks for such updated news.
12.10.2011
Payday loans canada commented:
Hoping such raising they can get as they are planning and can give a hike to economy graph there.Thanks for such post.
19.10.2011
Mortgage Specialist commented:
I feel It will help in improving their national economy assets too.Thanks for such updated news.
02.11.2011
Asian Private Funds commented:
There has been reports of a marked development in Asian market as can be seen by the AIG Asia unit listing to raise up to $20 ban
12.12.2011