AIA mandate up for grabs as end of lock-up approaches

21 Aug 2012

Hong Kong ECM bankers are starting to circle US insurer AIG in the hope that they will win a mandate to sell down the insurer’s AIA stake when it comes off a six month lock-up at the beginning of next month.

The parent company’s remaining stake in the Asian insurer could be worth as much as $8bn and bankers expect it will want to sell a large chunk — if not the entire stake — to buy back its own shares from the US government.

“You can see from its ...

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