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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

AIG lowers Asian unit IPO valuation to woo Kuwaitis

Posted on 04 October 2010

From AFP: US insurer AIG has been forced to reduce its valuation for the Hong Kong initial public offering of its Asian unit AIA to win the commitment of Kuwait’s sovereign wealth fund, a report said Monday.
AIG had to drop its initial plan to sell shares in AIA at a level that would value the company at 35-37 billion dollars (25.4-26.9 billion euros) to secure the backing of the Kuwait Investment Authority, the Financial Times said……………………………………….Full Article: Source

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