A successful IPO of AIA is important to AIG’s plans to repay billlions of dollars in US government aid and persuade the authorities to sell their 80% stake in the company. AIG is now approaching big state-controlled companies and investors over the sale of a significant stake in its Asian arm of AIA ahead of its 20bn+ listing.
The initial positive response has prompted the US insurer to consider placing as much as 30% with cornerstone investors such as sovereign wealth funds, Chinese state-owned companies and wealthy tycoons, instead of offering them minor stakes in the Hong Kong initial public offering.