AIG subscribes to PICC offer
Chinese insurer PICC Property & Casualty Company aims to raise HK$6.14bn ($787mn) from a rights issue which is being supported by cornerstone shareholder American International Group (AIG).
AIG holds 9.9 percent of the company's total shares through a block holding of its Hong Kong-listed H shares (PICC also has a block of Chinese renminbi-denominated domestic shares).
Under the rights issue one new share right will be offered for every 10 shares currently held by investors, according to an announcement from...
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