AIA raises $17.8 billion, remains on track to be third largest IPO in the world

The pan-Asian life-insurer prices at the top and exercises its 20% upsize option in full after attracting $130 billion of demand.

AIA raises $17.8 billion, remains on track to be third largest IPO in the world

It came as no surprise that AIA Group priced its Hong Kong initial public offering at the top of the range as the global coordinators had been steering investors towards the maximum price for at least a week. The crucial issue instead was whether the Asian life insurance arm of US-based American International Group AIG would also be able to exercise its 20% upsize option desired by investors because it would increase the free-float and reduce the influence of...

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