(Bloomberg) -- American International Group Inc., the insurer that repaid a U.S. bailout, raised HK$50 billion ($6.45 billion) from the sale of its remaining stake in AIA Group Ltd., pricing shares in the top half of the range. The Asian company’s shares dropped the most in almost five months.

AIG sold 1.65 billion shares at HK$30.30 each, AIA said in a statement today. The shares were offered at HK$29.65 to HK$30.65 each. AIA fell 3.3 percent to close at HK$30.60 in Hong Kong, the most since July 23. It was the biggest decliner and most actively traded stock by both volume and value in the city’s benchmark Hang Seng Index with HK$56.6 billion ($7.3 billion) worth of shares changing hands today.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access