AIA falls after shareholder’s US$356m sale

AIA Group Ltd. shares fell for the fourth day in five in Hong Kong after a shareholder sold its entire stake for US$356 million, taking advantage of a 15 per cent rally in the insurer’s stock in the past three months. The third-largest Asia-based insurer declined 0.8 per cent to HK$29.95 as of 9:55 a.m. local time, after falling as much as 1.3 per cent. Mount Swettenham Investments sold its entire holding of 92.4 million shares at HK$29.84 each, according to a pricing document sent out by Bank of America, the sole arranger.

via Business feed http://www.scmp.com/business/money/market-snapshot/article/1098830/aia-falls-after-shareholders-us356m-sale