Posted on 13 Aug 2010
American International Group, Inc. (AIG) has reportedly entered discussions to sell 30 percent of the stakes in AIA, its Asian life insurance subsidiary, in preparation of an initial public offering.
The move could raise as much as $15 billion for the insurance giant, say sources. AIG plans to add AIA's name to the Hong Kong stock exchange ticker by the end of 2010.
According to sources, a number of potential investors have expressed interest in courting AIA, including Temasek Holdings, China Investment Corp and Abu Dhabi Investment Authority.