Latest tax and investment news
AIA adds seven banks to handle Hong Kong IPO
American International Assurance (AIA) has added seven banks that will handle its planned $10 billion (£6.4 billion) to $20 billion (£12.8 billion) Hong Kong initial public offering (IPO).
It is the latest development for the Hong Kong IPO, which AIA parent company American International Group is planning to repay a bail-out from the US government, according to Dow Jones.
AIA has selected Bank of America Merrill Lynch, Citigroup, Credit Suisse Group, Goldman Sachs Group and UBS AG, as well as Chinese banks CCB International and ICBC International Holdings, people familiar with the deal told the news provider.
The nine banks in total on the deal are expected to make between $250 million (£160 million) and $350 million (£223.9 million) in fees if the deal goes ahead at $10 billion.
It follows news that Agricultural Bank of China has stated that it has no plans to proceed with an IPO in the near future, citing weak market conditions.
Posted by Jon Cummins.
For More Information
For more information about our services please contact us on the number provided below. Alternatively, fill out this form, indicating your area of interest, and one of our partners will contact you. If in any doubt, we offer a free, no obligation meeting to discuss your requirements.
For further information please email us at mail[at]atcsolutions.com or call:
ATC Solutions takes your privacy very seriously and any information you provide will only be used by us. We do not pass on information to any third parties unless you expressly give us permission and only then in relation to your specific enquiry.
