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AXAHY AXA SA (QX)

36.11
0.28 (0.78%)
31 May 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
AXA SA (QX) USOTC:AXAHY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.28 0.78% 36.11 35.38 36.50 36.1499 35.78 36.0901 53,120 21:11:35

AXA Sells Most of Its Stake in Italy's Monte Dei Paschi

27/02/2023 5:23pm

Dow Jones News


AXA (QX) (USOTC:AXAHY)
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By Mauro Orru

 

AXA SA is selling most of its stake in Banca Monte dei Paschi di Siena SpA through an accelerated bookbuilding, saying it doesn't intend to seek representation on its board or influence the lender's long-term strategy.

The French insurer said Monday that it would retain a 0.0007% stake in the world's oldest bank upon completion. AXA currently owns about 7.94% of Monte dei Paschi.

"As AXA does not wish to seek representation on the board at the bank's upcoming shareholders' annual general meeting, or influence the bank's broader long-term strategy, AXA believes it is timely to sell its participation purchased in the capital increase," the company said.

Settlement and delivery of the shares is expected to take place on or around March 2.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

February 27, 2023 12:08 ET (17:08 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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