AAIA appoints banks for its upcoming flotation
American International Group (AIG) is set to appoint Deutsche Bank, Goldman Sachs and Morgan Stanley as joint global coordinators for the planned initial public offering of its Asian life insurance business, AIA, sources with knowledge of the matter said yesterday.
On Monday, AIG named Mark Tucker as the new chief executive of AIA and formally announced the IPO.
Bankers have previously said the AIA IPO could raise about $15bn (£9.9bn). The sources declined to be identified as the decision had yet to be made public. AIA declined to comment.
Deutsche Bank and Morgan Stanley did not immediately respond to requests seeking comment, while Goldman Sachs declined to comment.