Subscribe free to our newsletters via your
. 24/7 Space News .




POLITICAL ECONOMY
AIG's Asian unit to list in 20 billion dollar IPO: report
by Staff Writers
Hong Kong (AFP) Dec 17, 2009


Bailed-out US insurance giant AIG is planning to list its Asian unit in Hong Kong by the second quarter of 2010 in a sale that could raise as much as 20 billion dollars, a report said Thursday.

American International Group (AIG), which said in May that it planned to float American International Assurance (AIA), was expected to file a prospectus before Christmas, the Financial Times said, citing unnamed sources.

If Hong Kong regulators approve the initial public offering, it could be one of the world's largest share sales, the paper said.

Dow Jones Newswires said the company has now submitted a listing application to Hong Kong's stock exchange, citing an unnamed source.

The listing represents an attempt to distance the Asian insurance arm from its parent group, whose reputation has been hit by a huge Washington bailout at the end of last year after it was battered at the onset of the credit crunch.

Proceeds from the planned sale could be used to help repay some of the more than 80 billion dollars that AIG owes the US government, the report said.

AIG confirmed its listing plans for the unit earlier, but declined to give a timeline, saying it was "dependent on market conditions and regulatory approvals."

.


Related Links
The Economy






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








POLITICAL ECONOMY
China bond holdings steady, but US capital flows down
Washington (AFP) Dec 15, 2009
China's holdings of US Treasury bonds held steady in November, according to data Tuesday showing a drop in net purchases of US securities along with a net outflow of capital. China's holdings remained unchanged in November at 798.9 billion dollars. China is the largest holder of US Treasury bonds, followed by Japan, whose holdings fell to 746.5 billion dollars from, 751.5 billion a month ... read more


POLITICAL ECONOMY
Earth's moon gets down to -416F

Biosatellite To The Moon

Is There Life On The Moon

Views Of The World Under The Moon

POLITICAL ECONOMY
Mars orbiter resumes science operations

How To Find Signs Of Life On Mars

Methane study favors life on Mars theory

Trough Deposits On Mars Point To Complex Hydrologic Past

POLITICAL ECONOMY
Top US lawmaker skeptical of new space funding

NASA, Saudi Arabia partner on research

Cuts To Human Spaceflight Program Harms Aerospace Workforce, US Economy, And National Security

NASA announces moon design competition

POLITICAL ECONOMY
China Launches First Public-Welfare Mini Satellite

Chang'e-1 Has Blazed A New Trail In China's Deep Space Exploration

China To Launch Second Lunar Probe In 2010

China To Launch Research Satellite In Near Future

POLITICAL ECONOMY
Astronauts to carry Christmas cheer to ISS

Russia To Launch MIM1 Module To ISS Next Year

Russia Plans To Send 10 Spacecraft To ISS Next Year

SpaceX Begins NASA Astronaut Training For Dragon Spacecraft COTS Program

POLITICAL ECONOMY
ESA signs Gaia launch contract

Arianespace Powers On With 30 Years Of Launches

NASA's WISE Eye On The Universe Begins All-Sky Survey Mission

WISE Launch Rescheduled For December 14

POLITICAL ECONOMY
Astronomers Find World With Inhospitable Atmosphere And Icy Heart

First Super-Earths Discovered Around Sun-Like Stars

Low Mass Planets May Be Common Around Nearby Stars

Superior Super Earths

POLITICAL ECONOMY
Sony to offer Wall Street Journal, New York Post on e-reader

China starts building bridge linking Hong Kong, Macau

Space Debris Remediation Seen As A New Business Area

Cryostat To Fly On WISE Mission




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement