Unnamed AIA Group shareholder is said to sell US$3.4 billion stake
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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