Khazanah launches up to $360 million stake sale in AIA: IFR
HONG KONG (Reuters) - Malaysia's state investor Khazanah Nasional Bhd KHAZA.UL launched on Wednesday an up to $360 million offering of shares in AIA Group (1299.HK), IFR reported, citing a term sheet of the transaction.
Khazanah, through its Mount Swettenham Investments unit, is offering 92.35 million AIA shares in a range of HK$29.84-HK$30.20 each, equivalent to a discount of up to 1.2 percent to Wednesday's close, added IFR, a Thomson Reuters publication.
The selldown comes ahead of the expiration of a lockup on AIA shares by American International Group (AIG.N) this week, when the U.S. insurer will be free to sell a stake worth $6.4 billion at current market prices.
Bank of America Merrill Lynch was hired as sole bookrunner on the AIA stake sale.
(Reporting by Fiona Lau of IFR and Elzio Barreto; Additional reporting by Clement Tan; Editing by Muralikumar Anantharaman)
- Tweet this
- Share this
- Digg this
- Scots spurn independence in historic vote but demand new powers
- PM Modi says al Qaeda will fail in India - CNN
- India TV anchor's number is up after naming China's Xi 'Eleven'
- CORRECTED-UPDATE 2-SAP agrees to buy expense software maker Concur for $7.3 bln
- China not warlike, says Xi, as border standoff dominates India trip