Unnamed AIA Group Shareholder Is Said to Sell $3.4 Billion Stake

An undisclosed AIA Group Ltd. shareholder sold a HK$26.8 billion ($3.4 billion) stake in the insurer via block trades, according to people familiar with the matter, in one of the biggest disposals in the city this year.

The 394.4 million shares, which represent a 3.7% stake in the Hong Kong-based insurer, were sold at HK$68 apiece according to data compiled by Bloomberg. That’s a discount of 6% from AIA’s Thursday close in Hong Kong, and the insurer’s shares dropped 4.4% on Friday.