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FINANCIAL NEWS
Kuwait invests $1b in AIA Asian unit IPO
04 Oct 2010
(MENAFN) A statement issued by the American International Group Inc American International Group Inc. (AIG), said that it received a $1 billion obligation from Kuwait Investment Authority for the IPO and the major investment is worth $15 billion, Reuters reported.
KIA, the country’s sovereign wealth fund, is amid the main global institutions that have signed up as keystone investors ahead of AIA’s IPO.
Cornerstone investors, including Middle East wealth funds KIA and Qatar Investment Authority, played a major role in the victory of AgBank’s IPO.
It is said that investors are expected to purchase about 15-20 percent share in the AIA offer although the AIA has not announced yet the share amount it is planning to sell.
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