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AIA's IPO sets new records

AIA Group says its Hong Kong Initial Public Offer (IPO) is the largest IPO in Hong Kong's history, the third largest globally and the world's largest IPO in the insurance sector.

Monday, November 1st 2010, 4:24PM

AIA's IPO was 9.62 times subscribed, before taking into account the exercise of the Offer Size Adjustment Option. In addition, its International Placing was significantly over-subscribed.

The Offer Price was set at HK$19.68 per Offer Share, with an approximate 7.03 billion of AIA Shares being offered after the exercise of the Offer Size Adjustment Option.

Total proceeds raised from the Global Offering amounted to approximately HK$138.33 billion (US$17.83 billion) before the exercise of the Over-Allotment Option.

Mark Tucker, AIA Group executive chairman and chief executive officer said following a highly enthusiastic response from investors around the world, AIA's IPO has set new records.

"Our ability to attract such record breaking demand demonstrates investors' desire to be a part of a strong business with exciting future growth prospects."

He says it is also an endorsement of AIA's long history in and exclusive focus on the Asia Pacific region, the fastest growing economic region of the world.

"The successful IPO marks the decisive step in our path to independence as a listed company."

He says everyone in AIA has worked incredibly hard for this day and the company can now draw a line under previous uncertainty about AIA's future and move forward with clarity and purpose.

"We will focus our full attention and resources on growing the business and on optimising long-term value for shareholders and this will also ultimately benefit our customers."

Tucker says employees and agents are excited and re-energised and together will drive AIA to the next level of growth.

 

  

 

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