AIG (AIG) Prices 361M H Shares of PICC P&C
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AIG Announces Pricing of the Sale of Ordinary H Shares of PICC Property and Casualty Company Limited
December 7, 2015 5:20 PM ESTNEW YORK--(BUSINESS WIRE)-- American International Group, Inc. (NYSE: AIG) announced today that it has priced the sale of 361 million ordinary H shares of PICC Property and Casualty Company Limited (PICC P&C) by means of a placing to certain institutional investors.
Upon the closing of the placing, which is scheduled for December 10, 2015, and is subject to customary closing conditions, AIG will receive gross proceeds of approximately US$751.8 million, based upon a purchase price of HK$16.14 (approximately US$2.08) per share. Thereafter, AIG will continue to be the largest holder... More
