The Hong Kong billionaire Sir Li Ka-shing is among a handful of Asian tycoons who will spend this weekend deciding whether to invest in the Prudential’s takeover of AIA.Cheng Yu-tung, the property entrepreneur, is also understood to have been approached to take part in the insurer’s record $21 billion rights issue as a sub-underwriter.
Yesterday, people close to the deal said that the presence of GIC, the powerful Singapore sovereign wealth fund, on the list of underwriters had spurred the interest of other Asian investors. They said that at least one prominent Hong Kong billionaire had agreed to sign up for the Pru’s cash call.
Sir Li, as well as CIC, the Chinese sovereign wealth fund, and Singapore’s Temasek are understood to have expressed “strong interest”. Full Story
