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AIG offering US$1.2b shares in China's PICC Property & Casualty: IFR

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American International Group is offering about US$1.2 billion worth shares in China's PICC Property and Casualty Co Ltd in a block deal, IFR said on Saturday, citing a term sheet of the deal.

[HONG KONG] American International Group is offering about US$1.2 billion worth shares in China's PICC Property and Casualty Co Ltd in a block deal, IFR said on Saturday, citing a term sheet of the deal.

AIG is offering 740 million PICC shares in an indicative range of HK$13.06-HK$13.35 each, an up to 8 per cent discount to PICC's Friday close, the term sheet showed.

AIG did not respond to an email seeking comment.

REUTERS