
Report: The Kuwait Investment Authority, a sovereign wealth fund, is reportedly the seller of AIA Group shares worth USD 3.4 billion
Bloomberg cited informed sources reporting that the Kuwait Investment Authority (KIA) is the "unnamed shareholder" selling AIA Group shares worth HKD 26.8 billion (approximately USD 3.4 billion) through block trades. This sovereign wealth fund sold 3.7% of AIA's shares through a series of block trades. Data compiled by Bloomberg shows that the 394.4 million shares were sold at a price of HKD 68 per share. The selling price represents a 6% discount to AIA's closing price in Hong Kong on Thursday. The stock fell 4.4% on Friday
