Demand hints AIA IPO pricing near top end -sources

HONG KONG/NEW YORK, Oct 21 (BestGrowthStock) – American International
Group Inc (AIG.N: ) is expected to price its up to $20.5 billion
AIA Group IPO near the top end of the indicative range, sources
with direct knowledge of the matter told Reuters on Thursday.

The IPO generated more than $200 billion in demand from
institutional investors, sources said.

The 10 times oversubscription level included repeat orders
from investors on worries that their allotment could be scaled
back due to excess demand.

AIG, which set a marketing range of HK$18.38-HK$19.68 each
for the IPO, is raising money to repay the financial aid it
received from the U.S. government during the financial crisis.

The pricing meeting is scheduled to start at 6:00 p.m. New
York time (2200 GMT) on Thursday, where AIG will also decide
whether to exercise the up-size option, one of the sources said.

Including the up-size and greenshoe options, the AIA IPO is
set to raise up to $20.5 billion, placing it on course to be
the third-biggest IPO ever. That will leave AIG with a 33 percent
stake in its Asian life insurance business, AIA.

Sources were not authorised to speak to media about the
pricing. An AIA spokeswoman was not available for an immediate
comment.
(Reporting by Kennix Chim, Clare Baldwin and Denny Thomas;
Editing by Jacqueline Wong)

Demand hints AIA IPO pricing near top end -sources