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Unnamed AIA Group shareholder is said to sell HK$26.8 billion stake

Unnamed AIA Group shareholder is said to sell HK$26.8 billion stake

Business Times3 days ago
[HONG KONG] An undisclosed AIA Group shareholder sold a HK$26.8 billion (S$4.4 billion) stake in the insurer via block trades, according to people familiar with the matter, in one of the biggest disposals in the city this year.
The 394.4 million shares, which represent a 3.7 per cent stake in the Hong Kong-based insurer, were sold at HK$68 apiece according to data compiled by Bloomberg. That was a discount of 6 per cent from AIA's Thursday close in Hong Kong, and the insurer's shares dropped 4.4 per cent on Friday (Jul 4).
The disposal was made by a single seller, according to people familiar with the transaction, who asked not to be named discussing a private matter. AIA did not immediately respond to queries made after hours.
It was Hong Kong's fourth-largest share sale this year, according to data compiled by Bloomberg. The deal comes amid a pick-up in deals in the city, which was the world's second-largest market for equity offerings in the first half. BLOOMBERG
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