AIG raises $17.9 through AIA listing

AIA, the Asian life insurance arm of AIG, raised $17.9 billion (£11.4bn) yesterday by pricing its Hong Kong initial public offering at the top of its range as investors piled into the most attractive IPO in the world's hottest financial market.

The pricing of the IPO comes as new listings proliferate in Asia. It puts an end to a long-running saga for American International Group, which tried and failed to sell AIA to Prudential earlier this year.