AIG Raises $17.8 Billion with Hong Kong IPO

by | Oct 22, 2010 | Towing

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.

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AIG’s CEO Robert Benmosche has said that selling the shares will help put the company…

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AIG Raises $17.8 Billion with Hong Kong IPO originally appeared on DailyFinance on Fri, 22 Oct 2010 06:39:00.

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Walmart to Sell Kobo E-Reader Starting Next Week

by | Oct 22, 2010 | Towing

Walmart Stores (WMT) will start selling the Kobo Inc. digital book reader in U.S. stores next week, as it moves to increase its hand-held electronic product line.

U.S. stores will begin selling the Kobo device as early as Oct. 24, Walmart CEO Michael Serbinis told Bloomberg News.

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Kobo is a joint venture between Indigo Books & Music and Borders Group (BGP). The e-readers have…

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Walmart to Sell Kobo E-Reader Starting Next Week originally appeared on DailyFinance on Fri, 22 Oct 2010 00:01:00.

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Magic Johnson Sells Starbucks Shares

by | Oct 21, 2010 | Towing

Earvin “Magic” Johnson, the former basketball star, has made his second big divestment in less than a week. After selling his 5% stake in his former team, the Los Angeles Lakers, Johnson has also sold his 50% stake in 100 urban…

Office Depot to Settle SEC Charges for $1 Million

by | Oct 21, 2010 | Towing

Office Depot has agreed to pay $1 million to settle Securities and Exchange Commission charges that it improperly disclosed key financial information to only a few analysts and shareholders. The CEO and former CFO also will pay…