AIA Group has mandated Deutsche Bank, Goldman Sachs and Morgan Stanley as global coordinators for its upcoming initial public offering, which has been revived after Prudential's $35.5 billion bid to acquire the company collapsed in early June, sources said yesterday.
The company is expected to add other banks as bookrunners later on.
AIA's parent company, American International Group AIG, confirmed earlier this week that it will proceed as soon as practicable with its previously announced plan for an IPO of its wholly owned Asian life insurance business on the Hong Kong stock exchange.
After reviewing various options to monetise AIA's substantial value, we have concluded that an IPO is our best option,...
¬ Haymarket Media Limited. All rights reserved.
