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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Prudential Plc | LSE:PRU | London | Ordinary Share | GB0007099541 | ORD 5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 668.00 | 669.40 | 669.80 | 0.00 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Life Insurance | 12.19B | 1.7B | 0.6401 | 10.46 | 17.75B |
From Feb 2020 to Feb 2025
By Dimitrios Kontos
Prudential PLC (PRU.LN) said Wednesday that it is entering the mutual-fund market in Thailand as its Asian asset management business has agreed to buy an initial 65% interest in TMB Asset Management Co. from TMB Bank PCL (TMB.TH).
The FTSE 100-listed life insurance and financial services company said its Eastspring Investments arm has an option to increase its holding to 100% in the future.
Prudential said that Eastspring has also entered into a distribution agreement with TMB to provide investment solutions but it didn't disclose monetary details on either deal.
The company said Asia is its growth engine and this acquisition further enhances its position in Thailand.
The acquisition provides Eastspring with an opportunity to establish a significant third-party presence in the largest and fastest-growing mutual-fund market in the region, Prudential said.
TMB Asset Management is the fifth-largest asset manager in Thailand with GBP10 billion of assets under management, Prudential said.
Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com
(END) Dow Jones Newswires
July 25, 2018 08:36 ET (12:36 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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