AIA raises $17.8bn in public offering

Believed to be the largest initial public offering in Hong Kong history, AIG sold 7.03bn shares of its Asian arm at the top end of its price range. The value of AIA is about $5bn lower than the price UK giant Prudential agreed to buy the insurer, which collapsed in July following an investor backlash. A number of UK investors placed orders for shares in AIA public offering, including high profile Jupiter financials managers Guy de Blonay and Philip Gibbs. Mark Tucker, the former Prudential CEO and now AIA chief executive, says the IPO is a "critical turning point" for the insurer. ...