| Kippreport.com

Malaysia’s Guoco, Kuwait, among AIA IPO buyers-document

October 5, 2010 9:29 by Reuters

Six cornerstone investors have agreed to commit $1.9 billion to the $15 billion AIA IPO, according to a document obtained by Reuters

American International Group Inc plans to sell 48.6 percent stake in its Asian life insurance unit, AIA Group Ltd, the document says, in a deal that seeks to raise up to $14.86 billion. Kuwait Investment Authority has commited $1 billion while Guoco Group has agreed to invest $370 million. Lorita Investment and Kumpulan Wang Persaraan have agreed to invest $200 million each in the IPO, the document says.

Citigroup Inc. , Deutsche Bank AG , Goldman Sachs Group Inc and Morgan Stanley are joint global coordinators for the IPO.

(Reporting by Kennix Chim and Denny Thomas, Editing by Michael Flaherty)

Tags: $15 billion AIA IPO, AIA IPO, AIA IPO buyers, Kuwait AIA IPO buyers, Malaysia's Guoco AIA IPO