Selling stock and sell assets…… American International Group (AIG), or face greater credit losses.
Local time on May 20, AIG chairman and chief executive officer Martin »Sullivan (Martin J. Sullivan) in London, a seminar said, AIG will raise 20 billion U.S. dollars," the credit market turmoil continued to prepare . "
This initial funding target of more than 60 percent. May 8, AIG issued a quarterly earnings, announced a fund-raising 12.5 billion U.S. dollars, to supplement the company's assets, the company should increase the short-term market risks.
This change will undoubtedly exacerbated the market for credit losses AIG concerns.
On the 20th, AIG shares fell 2.13 percent, to close at 38.12 U.S. dollars, are still 38 U.S. dollars set in March of the 10 lowest point in lingering. As the world's largest market value of the insurance company, AIG has also become the Dow Jones Industrial Average this year in the worst performance of the company.
Following the February this year, AIG announced that fourth quarter 2007 loss of 5.3 billion U.S. dollars, May 8, AIG announced first quarter 2008 net loss amounted to 7.81 billion U.S. dollars, or 3.09 U.S. dollars, AIG became the biggest losses. Sullivan said that day, AIG has the capital to "disturbing" standard.
AIG through the sale of shares and to issue bonds to replenish capital.
12.5 billion U.S. dollars in accordance with the financing plan, AIG will first issue 7.5 billion U.S. dollars of ordinary shares and equity-linked securities, to issue 5 billion U.S. dollars of fixed-income securities.
The announcement followed a series of constantly refresh the amount of its financing.
On the 12th, AIG announced that it has sold 11.9 billion U.S. dollars of common stock and the stock can be converted to equity units, higher than the previous estimate of 7.5 billion U.S. dollars. The company also said it may increase the sale of 1.5 billion U.S. dollars a mixture of bonds and 5 billion U.S. dollars of bonds. AIG spokesman Chris »Wennan (Chris Winans) said:" demand exceeded our expectations. "
16, the amount of funding to continue to increase. AIG to the U.S. Securities and Exchange Commission on that day's paper, has sold nearly 13.4 billion U.S. dollars of common stock and the stock can be converted to equity units, including 196.7 million ordinary shares and 78.4 million in equity units.
On the 20th, AIG third increase in financing limit. Sullivan said the same day, through the sale of common shares and equity units, AIG now raise at least 13.5 billion U.S. dollars, is now available for sale to the U.S. dollar, euro and sterling-denominated bonds mixed, is expected to raise the equivalent of 6.5 billion U.S. dollars of funds, "the new Capital can help us now use the emerging market in which the advantage to the credit market turmoil continued to prepare. "
At the same time, AIG has plans to sell some non-core businesses and in overseas markets for new business development.
"In our assets, not what is sacred and inviolable." Sullivan said, "We have started stripping non-core business."
The Wall Street Journal on the 12th had said, AIG's international financial leasing companies (ILFC) and AIG are considering separation, ILFC for the major U.S. airlines to provide aircraft leasing business. Reported that, ILFC management worried that the parent company AIG's credit problems that may affect its aircraft leasing industry in the development of capacity.
However, Sullivan on the 20th denied the rumors. He said the company will develop part of the business, especially overseas life insurance and retirement pension, and aircraft leasing business, "We want to ensure that the main business intact."
Sullivan of AIG's insurance business outside the United States and expressed satisfaction with the financial markets, including AIG, the insurance subsidiaries of our allies, AIU.
Sichuan after the earthquake, AIG announced that it would contribute 1 million U.S. dollars (about 7 million yuan), International Assurance Company, AIU and other AIG member companies in China also promised another donated nearly 2.3 million yuan.
Local time on May 20, AIG chairman and chief executive officer Martin »Sullivan (Martin J. Sullivan) in London, a seminar said, AIG will raise 20 billion U.S. dollars," the credit market turmoil continued to prepare . "
This initial funding target of more than 60 percent. May 8, AIG issued a quarterly earnings, announced a fund-raising 12.5 billion U.S. dollars, to supplement the company's assets, the company should increase the short-term market risks.
This change will undoubtedly exacerbated the market for credit losses AIG concerns.
On the 20th, AIG shares fell 2.13 percent, to close at 38.12 U.S. dollars, are still 38 U.S. dollars set in March of the 10 lowest point in lingering. As the world's largest market value of the insurance company, AIG has also become the Dow Jones Industrial Average this year in the worst performance of the company.
Following the February this year, AIG announced that fourth quarter 2007 loss of 5.3 billion U.S. dollars, May 8, AIG announced first quarter 2008 net loss amounted to 7.81 billion U.S. dollars, or 3.09 U.S. dollars, AIG became the biggest losses. Sullivan said that day, AIG has the capital to "disturbing" standard.
AIG through the sale of shares and to issue bonds to replenish capital.
12.5 billion U.S. dollars in accordance with the financing plan, AIG will first issue 7.5 billion U.S. dollars of ordinary shares and equity-linked securities, to issue 5 billion U.S. dollars of fixed-income securities.
The announcement followed a series of constantly refresh the amount of its financing.
On the 12th, AIG announced that it has sold 11.9 billion U.S. dollars of common stock and the stock can be converted to equity units, higher than the previous estimate of 7.5 billion U.S. dollars. The company also said it may increase the sale of 1.5 billion U.S. dollars a mixture of bonds and 5 billion U.S. dollars of bonds. AIG spokesman Chris »Wennan (Chris Winans) said:" demand exceeded our expectations. "
16, the amount of funding to continue to increase. AIG to the U.S. Securities and Exchange Commission on that day's paper, has sold nearly 13.4 billion U.S. dollars of common stock and the stock can be converted to equity units, including 196.7 million ordinary shares and 78.4 million in equity units.
On the 20th, AIG third increase in financing limit. Sullivan said the same day, through the sale of common shares and equity units, AIG now raise at least 13.5 billion U.S. dollars, is now available for sale to the U.S. dollar, euro and sterling-denominated bonds mixed, is expected to raise the equivalent of 6.5 billion U.S. dollars of funds, "the new Capital can help us now use the emerging market in which the advantage to the credit market turmoil continued to prepare. "
At the same time, AIG has plans to sell some non-core businesses and in overseas markets for new business development.
"In our assets, not what is sacred and inviolable." Sullivan said, "We have started stripping non-core business."
The Wall Street Journal on the 12th had said, AIG's international financial leasing companies (ILFC) and AIG are considering separation, ILFC for the major U.S. airlines to provide aircraft leasing business. Reported that, ILFC management worried that the parent company AIG's credit problems that may affect its aircraft leasing industry in the development of capacity.
However, Sullivan on the 20th denied the rumors. He said the company will develop part of the business, especially overseas life insurance and retirement pension, and aircraft leasing business, "We want to ensure that the main business intact."
Sullivan of AIG's insurance business outside the United States and expressed satisfaction with the financial markets, including AIG, the insurance subsidiaries of our allies, AIU.
Sichuan after the earthquake, AIG announced that it would contribute 1 million U.S. dollars (about 7 million yuan), International Assurance Company, AIU and other AIG member companies in China also promised another donated nearly 2.3 million yuan.
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