AIA sets IPO price range,may offer upto 8.08billion shares

AIA Group Ltd, which is aiming to raise up to $20.5 billion through a Hong Kong listing, said it had set an IPO price range of HK$18.38-19.68 per share.                                           

It said the base offering would comprise of 5.86 billion shares and that upto 8.08 billion shares, including the greenshoe upsized option, may be offered.                                           
 

"With the global offering, AIA will become the only independant, listed life insurance group exclusively focused on the Asian growth opportunity -- the first of its kind in the life insurance sector," a statement from AIA said quoting CEO Mark Tucker.