View this article online: https://www.insurancejournal.com/news/international/2000/11/01/10609.htm
According to German newspaper reports the Securities & Exchange Commission (SEC) is set to rule on the application of German insurer Allianz AG to list shares on the New York Stock Exchange (NYSE), possibly as early as this month.
The listing, which Allianz has long sought, would give it a strategic boost in the all important U.S. market, as it could use the shares to fund further acquisitions, especially in funds management, an area that the company hopes to build on following its purchase of California based PIMCO and Nicholas-Applegate.
According to analysts, Allianz’ financial position is not in question, but SEC regulations require that specific accounting principles be applied before a listing can be approved, and these may not be as detailed as required. In which case an NYSE listing could be delayed until the middle of next year.