Prudential to Raise Up to $ 2.9 Billion to Help Fund Asia and Africa Penetration

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Update of the prudential controller

Prudential plans to raise up to $ 2.9 billion in Hong Kong to complete a review of its U.S. operations earlier this month, repay debt and invest in Africa and Asia.

The life insurance company has announced plans to sell around 130.8 million shares on the Hong Kong Stock Exchange, a quarter of which will be available through a public offering. More investors In Asia.

The London-listed group said its equity issuance income was “to maintain and strengthen Prudential’s financial flexibility, given the opening up of investment opportunities for growth in Asia and Africa.” Said it will be used.

$ 2.25 billion will be used to repay existing debt at high interest rates and the rest will be used to increase the group’s liquidity.

Prudential said its long-term investment in the group would allow it to serve 50 million customers by 2025. At the half-yearly stage, it had 17 million customers in Asia and Africa.

The financing announced by the company in January will come at the end of the long-term restructuring of the life insurance group. To divide We did business in the UK two years ago and this month we split our US company Jackson by listing on the New York Stock Exchange.

She was encouraged by the efforts of American activist investors Third pointWe also want to abolish the rest of our UK headquarters. “I didn’t want to do that,” the group said.Key stakeholders“The talent of London.

Prudential plans to set a public offering price on or around September 25, but the public offering price is capped at HK $ 172 ($ 22.09).

Shares of the company fell 6.4% to £ 13.53 at the start of the London session.

Prudential to Raise Up to $ 2.9 Billion to Help Fund Asia and Africa Penetration Prudential to Raise Up to $ 2.9 Billion to Help Fund Asia and Africa Penetration


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