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Prudential plans US$2.89 billion share offering in Hong Kong

Bloomberg
Bloomberg9/19/2021 7:17 PM GMT+08  • 3 min read
Prudential plans US$2.89 billion share offering in Hong Kong
Prudential plans a share offering of up to US$2.89 billion in Hong Kong
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Prudential Plc plans to raise up to the equivalent of US$2.89 billion in a new share offering in Hong Kong as the insurance giant eyes long-term growth opportunities in Asia and Africa.

Prudential intends to offer as many as about 130.8 million shares, or up to 5% of its issued share capital, on the Hong Kong stock exchange through a concurrent public offer and international placing to increase its Asian shareholder base, it said in a statement on Saturday.

The new shares will be offered at a maximum of HK$172 apiece and will be traded in Hong Kong on Oct. 4. Pricing is expected on Sept. 25, the company said.

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