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Share Name | Share Symbol | Market | Type |
---|---|---|---|
AIA Group Ltd (PK) | USOTC:AAIGF | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.01 | -0.13% | 7.76 | 7.35 | 7.92 | 8.02 | 7.45 | 7.54 | 24,282 | 22:00:00 |
A shareholder of AIA Group Ltd. (1299.HK) raised HK$541.2 million (US$69.6 million) by selling shares in the insurer through a placement, HSBC said Wednesday.
NWS Financial Management Services Ltd., a wholly owned subsidiary of NWS Holdings Ltd. (0659.HK) controlled by Hong Kong tycoon Cheng Yu-tong, sold 19.72 million AIA shares at HK$27.45 each, said HSBC, the sole bookrunner of the share placement.
The selling price was at the upper end of the HK$27.31 to HK$27.45 per share guidance range in a term sheet seen by Dow Jones Newswires on Tuesday.
The sale makes NWS the first cornerstone investor to exit its investment in the insurance group, a month after a lock-up period for shares held by such investors expired.
In its initial public offering last year, the insurer secured US$1.92 billion from seven cornerstone investors, including NWS, Kuwait Investment Authority, Malaysian property and financial-services firms Guoco Group Ltd. and Hong Leong Group, as well as Chow Tai Fook Enterprises Ltd.
AIA shares closed 0.4% lower at HK$27.35 Wednesday.
-By Fiona Law, Dow Jones Newswires; 852-2802-7002; fiona.law@dowjones.com
1 Year AIA (PK) Chart |
1 Month AIA (PK) Chart |
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