Interpac Business and Migration Solutions Melbourne Australia

（September 27, 2010）

AIA Group won't be selling new shares in its planned Hong Kong initial public offering, according to the term sheet.
AIA, the pan-Asian life unit of American International Group it is listing to help repay US taxpayers following a massive government bailout two years ago, began pre-marketing its IPO today.

The insurer is scheduled to list in Hong Kong on October 29, with the roadshow to start October 5 and pricing to be set October 21, according to a term sheet seen today by Dow Jones Newswires.

AIG's shares in AIA are subject to a six-month lockup period following the unit's listing, the term sheet said.

People familiar with the situation said earlier the insurer is seeking to raise around $US10 billion to $US15bn from the share listing, in what could be the world's second-biggest IPO this year, after Agricultural Bank of China raised a total of US$22.1 billion from a dual listing in Hong Kong and Shanghai earlier this year -- the world's biggest-ever IPO.

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One person familiar with the deal said last week AIG was considering selling up to 50 per cent of AIA, but no decision had yet been made.

AIA's IPO follows a failed $US35.5bn bid by Prudential for the Asia-focused unit of AIG.

Citigroup, Deutsche Bank, Goldman Sachs and Morgan Stanley are the global coordinators for the AIA IPO, according to the term sheet.

(Source:the Australian)