← Back to EventsSource: The Guardian ↗
Dear Pru
The flotation of insurer AIA in Hong Kong seems set to be a success. The issue is said to be twice subscribed, allowing more shares to be released and the firm to be priced at the top end of the $28.5bn-$30.5bn range. But that's cold comfort for Tidjane Thiam and Harvey McGrath at the Prudential. Their initial offer to AIG for AIA was $35bn – it looked too much in March and now looks even more like a wild misjudgment. The duo remain in post but events in Hong Kong will not make them more secure.
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