We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
Prudential Plc | NYSE:PUK | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.42 | 2.26% | 19.00 | 19.115 | 18.87 | 18.98 | 1,114,452 | 22:30:00 |
By P.R. Venkat
Prudential PLC is planning to raise up to 22.49 billion Hong Kong dollars ($2.89 billion) by issuing new shares as the insurer looks to redeem high-coupon debt due in six months and invest for growth.
The U.K. insurer is planning to sell 130.78 million new shares in the Hong Kong offer and has set a maximum price of HK$172 per share, Prudential said Monday.
The final price is expected to be determined on Sept. 25 and the new shares would start trading on the Hong Kong Stock Exchange on Oct. 4.
"The board believes that there are clear benefits to the group and to its shareholders as a whole from increasing its Asian shareholder base and the liquidity of its shares in Hong Kong," Prudential said.
On business prospects, the company said that significant Covid-19 related restrictions continue in many markets including Indonesia, Malaysia and Thailand. There also was continuing uncertainty over the extent and the timing of the reopening of border between Hong Kong and mainland China.
"Prudential is now entirely focused on long-term structural growth opportunities in Asia and Africa," Chief Executive Mike Wells said. "The share offer will maintain and enhance Prudential's financial flexibility in light of the breadth of opportunities to invest for growth."
Citigroup, Credit Suisse, BofA Securities are among banks advising prudential on the offering.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
September 19, 2021 18:57 ET (22:57 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
1 Year Prudential Chart |
1 Month Prudential Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions