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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| American International Group Inc | NYSE:AIG | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 1.01 | 1.29% | 79.11 | 78.86 | 76.22 | 77.76 | 6,715,713 | 01:00:00 |
From May 2019 to May 2024
HONG KONG--American International Group Inc. is raising up to US$507 million by selling shares in PICC Property & Casualty Co in an share placement, according to a term sheet seen by The Wall Street Journal Monday.
The U.S. insurer is selling 254 million shares, or about 5.5% of outstanding Hong Kong-listed shares, of PICC Property & Casualty in a price range of HK$15.00 -- HK$15.48 per share, it said in the term sheet, representing a 2-5% discount to the property-and-casualty firm's Monday closing price of HK$15.80.
AIG, which currently owns about 32% in PICC Property & Casualty, is barred to sell more shares for 90 days, it said in the term sheet.
Morgan Stanley is one of the banks handling the transaction.
Write to Prudence Ho at prudence.ho@wsj.com
Access Investor Kit for PICC Property & Casualty Co. Ltd.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=CNE100000593
Access Investor Kit for American International Group, Inc.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US0268747849
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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