Cheng's Companies to Invest $100 Million in AIA's IPO, Morning Post Says
(Corrects newspaper’s name in headline.)
Hong Kong tycoon Cheng Yu-Tung will invest $100 million in AIA Group Ltd.’s Hong Kong initial sale through New World Development Co. and Chow Tai Fook Enterprises Ltd., the Standard said, citing unidentified people.
Wharf (Holdings) Ltd. will invest $200 million in the initial public offering, the Hong Kong-based English-language newspaper reported today. A term sheet sent to investors identified Wharf Chairman Peter Woo as the investor.
Cheng and Woo will join AIA’s new board of directors, along with MTR Corp. Chief Executive Officer Chow Chung-kong and former Hong Kong Chief Secretary for Administration Rafael Hui, the Standard reported.
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