Summary
On December 17, 2012, American International Group, Inc. (AIG) announced the pricing of a significant sale of its stake in AIA Group Limited (AIA). AIG is divesting approximately 1.65 billion ordinary shares of AIA through a placing to institutional investors in Hong Kong. The offering is priced within a range of HK$29.65 to HK$30.65 per share (approximately US$3.83 to US$3.95).
Key Highlights
- 1AIG is selling its entire remaining ordinary shares in AIA Group Limited, amounting to approximately 1.65 billion shares.
- 2The sale is being conducted through a placing to institutional investors in Hong Kong.
- 3The pricing range for the AIA shares is between HK$29.65 and HK$30.65 per share.
- 4The exact sale price will be confirmed before the opening of the Hong Kong market on December 18, 2012.
- 5The AIA shares sold are not registered under the U.S. Securities Act of 1933 and cannot be offered or sold in the U.S. without registration or an exemption.
Frequently Asked Questions
The main event is AIG's announcement and pricing of the sale of its entire remaining stake in AIA Group Limited through a share placing in Hong Kong.
AIG is selling approximately 1.65 billion ordinary shares of AIA. The price range is between HK$29.65 and HK$30.65 per share, which translates to approximately US$3.83 to US$3.95 per share.
No, the AIA ordinary shares being sold have not been registered under the U.S. Securities Act of 1933. Therefore, they cannot be offered or sold in the United States unless they are registered or an applicable exemption from registration requirements is met.
The exact sale price will be disclosed before the opening of the Hong Kong market on Tuesday, December 18, 2012, Hong Kong time.