The IPO or initial public offering of the main Asian unit of American International Group Inc values the company at thirty decimal five billion dollars as stated by three officials aware of the matter.

The bankrupt insurer, bailed out by the government, AIG is planning to sell about fifty percent of AIA group limited in the IPO happening in Hong Kong as stated by one official who wanted to stay anonymous since the person does not have the authority to announce it publicly.

He added saying the exact numbers of shares which will be sold will be fixed today.

The upper end of the valuation range set for AIA tallies with the thirty decimal four billion dollars changed bid by the US insurer Prudential Inc that has been rejected four months back by AIG.

Since the sale of Industrial and Commercial Bank of China Ltd, in the year of 2006 this will be the biggest sale in Hong Kong.

Christopher Wong, senior investment manager of Aberdeen Asset Management Inc. that oversees assets worth two hundred and sixty seven billion dollars, located in Singapore opined that investors would have liked to square up the deal around thirty billion dollars.

According to him the offering is already bringing in pretty insistent growth rate in an operating environment that is very uncertain.

AIG, at one time considered as the biggest insurer is selling off its assets to meet up its debt of one hundred and eighty two decimal three billion dollars taken from the US government during its bailout.

Two of AIG's life insurance units will be purchased at an agreed rate of four decimal eight billion dollars by Prudential Financial Inc. the second biggest life insurer of the US.