Reuters leaves rivals scrambling with AIA`s $17.9 billion IPO, set to be the world`s 3rd biggest
10.22.2010
Reuters clients were first to learn on Oct 22 that AIG had priced the IPO of its Asian life insurance business at the top end of the marketing range to raise $17.9 billion, clinching a major victory in one of the worlds hottest stories of 2010. Reuters beat Bloomberg by nearly an hour with the crucial pricing of the IPO, and was ahead of Dow Jones by four minutes as the first source-based story hit the wire at 6:35 a.m. Hong Kong time. Careful planning and great cross border coordination between Hong Kong and New York helped Reuters to score the major win. AIAs IPO is set to be the worlds third-biggest offer, the biggest life insurance IPO and a record IPO in Hong Kong. A successful issue is key in AIGs efforts to secure freedom from the U.S. government
