AIA Group (HKG:1299) Downgraded as Institutions Scramble to Exit
AIA Group (HKG:1299) Downgraded as Institutions Scramble to Exit
The rush to dump AIA comes just before the lock- up period expires this week on AIA shares held by AIG.
The US insurer will then be free to sell its remaining 1.65 billion shares, or 13.7 percent stake in AIA, worth about HK$50 billion at current market prices.
Everyman and his dog is lining up to dump their AIA stake, so if you own it now be warned.
The Malaysian state investor is cashing in up to HK$2.8 billion by selling shares in AIA Group (HKG:1299) at a slight discount, just days before the lock-up period expires on the holdings of former parent American International Group.
Khazanah Nasional, through its Mount Swettenham Investments unit, was offering 92.35 million AIA shares between HK$29.84 and HK$30.20 apiece, equivalent to a discount of up to 1.2 percent to yesterday’s close, Reuters reported.
AIG has been gradually trimming its stake in AIA to repay a bailout from the US government. The last time it did so was in September 6, when it sold down some HK$16 billion worth of AIA shares.
Relative Valuation
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Last |
15:01 |
-0.100 |
30.100 |
||||
Close |
05-Dec-2012 |
30.200 |
|||||
VWAP |
30.0500 |
||
Bid / Ask |
30.000 / 30.050 |
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Day Range |
29.700 – 30.200 |
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Beta |
0.85 |
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Vol 1d v 5d |
122.03M v 56.81M |
||
Free Float |
– |
||
Outstanding |
– |
||
Market Cap |
|
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DR : AAGIY.PK |
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