Prudential to Raise US$2.4 Billion From Hong Kong Offer
26 Setembro 2021 - 7:44PM
Dow Jones News
By P.R. Venkat
Prudential PLC will raise $2.4 billion by issuing new shares,
proceeds of which will be used by the insurer to redeem high-coupon
debt due in six months and invest for growth.
The U.K. insurer will sell 130.8 million new shares in the Hong
Kong offer at a maximum price of 143.8 Hong Kong dollars per share
(US$18.46), Prudential said late Sunday.
Dealings in the shares will start from Oct. 5, the insurer
said.
"Our share offer allows investors to join us on our journey as
we execute our strategy which we believe will result in long-term
delivery of future shareholder returns through value appreciation,
with a focus on achieving long-term double-digit growth in embedded
value per share," Chief Executive Mike Wells said.
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 26, 2021 18:29 ET (22:29 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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