AIA said to get Hong Kong IPO approval

AIA Group Ltd, the main Asia unit of bailed-out insurer American International Group Inc, got preliminary approval from the Hong Kong bourse for its initial public offering, said two people with knowledge of the matter. The in-principle approval from the listing committee paves the way for Hong Kong-based AIA to start gauging investor demand on September 27 for a sale of about $15 billion in shares, said the people, who declined to be identified because the information is confidential. AIG may sell more than half its stake in the IPO. AIA plans to start a roadshow for the offering on October 6 and trading on the exchange may begin October 29, one of the people said.