clean up trade

The sale comes after sharp gains in the Chinese insurance company’s share price and pushes the total proceeds from Carlyle’s CPIC sell-downs above $5 billion.

The deal attracts massive demand and prices at a tight 4.3% discount, which results in a higher price per share than on AIG’s other two sell-downs in the pan-Asian life insurer this year.

The $630 million placement comes more than a month before the expiry of an existing lockup, but investors welcome the removal of the overhang and pile into the deal.