The value of AIA has soared above the $35.5bn failed Prudential offer on its trading debut, with shares in the Asian insurer climbing as much as 17% today.
AIA shares traded as high as HK$23.05 in early trading in Hong Kong, compared with the IPO price of HK$19.68. Pru was forced to abandon its proposed takeover of the Asian insurer earlier this year, following a shareholder backlash over the $35.5bn valuation. AIA last week priced its IPO at the top end of the HK$18.38-HK$19.68 range, after the offering ahead of schedule following strong global investor demand. Jupiter financials managers Philip Gibbs and Guy de Blonay were among those who placed an order in the 10 times oversubscribed IPO, as well as Henderson counterpart Emily Adde...
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