AIA shares soar 12 per cent on trading debut
Shares in the Asian unit of troubled US insurer AIG soared 12 per cent on their trading debut in Hong Kong on Friday, opening at 22.05 Hong Kong dollars ($2.84).
AIA shares rose well above their initial public offering price of 19.68 Hong Kong dollars, after the company raised $17.8 billion in a share sale that remains on track to be the world's second-largest IPO this year.
The Asian insurer's offering may still top $20 billion if it exercises certain options.
"This is a new beginning for AIA," Mark Tucker, the company's chief executive, told reporters at a listing ceremony in Hong Kong on Friday.
"Our aim is to make sure we are the leading insurance company in Asia."
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