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AIG Offers to Sell as Much as $6.5 Billion of AIA Shares

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Dec. 17 (Bloomberg) -- American International Group Inc., the insurer that repaid a U.S. bailout, is offering to sell as much as HK$50.6 billion ($6.5 billion) worth of AIA Group Ltd. shares in the third offering this year.

AIG, based in New York, is offering 1.65 billion shares in Hong Kong-headquartered AIA at HK$29.65 to HK$30.65 each, according to a term sheet obtained by Bloomberg News.

AIA, which announced that AIG has started to sell “a significant proportion” of its remaining 13.7 percent stake in a statement to the Hong Kong stock exchange today, didn’t reveal the exact number of shares on sale. Trading of Hong Kong-based AIA is suspended from 9 a.m. local time today.

To contact the reporters on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editors responsible for this story: Dan Kraut at dkraut2@bloomberg.net;

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