The U.S. government’s bailout has been less than effective in helping U.S. homeowners avoid foreclosure and could end up costing more than expected, according to a report from the Troubled Asset Relief Program’s special inspect…
AIG (AIG) raised HK$138.3 billion ($17.8 billion) from the IPO of its main Asian unit, AIA, putting the troubled insurer on track to repay its U.S. government bailout.
AIG placed 7.03 billion shares at HK$19.68 a share, Bloomberg News said. The shares sold represent a 58% stake in the unit, AIA.
AIG’s CEO Robert Benmosche has said that selling the shares will help put the company…
Continue reading AIG Raises $17.8 Billion with Hong Kong IPO
AIG Raises $17.8 Billion with Hong Kong IPO originally appeared on DailyFinance on Fri, 22 Oct 2010 06:39:00.
Filed Under: Company News, Investing, American International Group, Taxes, Insurance, Market News
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