AIG to raise $20bn in listing

AIG aims to raise around $20bn through the floatation of its Asian life insurance off-short AIA.

Strong investor demand has led AIG to close the books on one of the world’s biggest ever public offerings.

AIG is selling AIA on the Hong Kong stock exchange as it aims to pay back the US Government, City AM reports.

Earlier this year, AIG tried to sell AIA to Prudential for $35.5bn but the deal fell as the price was deemed to high.