AIA seeks $14.9 billion from Hong Kong listing

The pan-Asian life insurer welcomes an early inflow of orders and is covered after the first day, including $1.92 billion of demand from five cornerstone investors, sources say.

AIA Group, the pan-Asian life insurance unit of American International Group, yesterday kicked off its eagerly awaited initial public offering which is seeking to raise between HK$107.65 billion and HK$115.3 billion $13.9 billion to HK$14.9 billion.

The deal is made up entirely of secondary shares that will be sold by the parent company, which is on a quest to raise enough capital to repay the $182.3 billion government bailout that it received in 2008. According to...

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