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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Aviva plc    AV.   GB0002162385

AVIVA PLC

(AV.)
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Aviva : UK Watchdog Censures Aviva for Listing, Transparency Rules Breach

10/26/2020 | 06:08am EST

By Sabela Ojea

The Financial Conduct Authority censured Aviva PLC on Monday for a listing and transparency rules breach, saying that an announcement regarding preference shares posted by the FTSE-100 insurer had the potential to mislead the market.

The U.K. regulator said the announcement Aviva published in March 2018 included comments that gave the impression it was going to take action to cancel at par value certain preference shares.

"At the time, the preference shares were trading above their par value and so the statement caused concern that holders would incur losses on cancellation," the FCA said. It said the market price for Aviva's preference shares fell between 20% and 26% when the market closed.

Shareholders sold preference shares at the above par market price because of those comments, the FCA said. However, Aviva established a payment scheme for the preference shareholders that sold their shares at a lower share price a week later.

Because of these rapid measures, the FCA said it considers that Aviva's breach was serious but not intentional, while ensuring that this lack of clearness could have led to a financial penalty.

Aviva shares at 1044 GMT were up 6.50 pence, or 2.3%, at 284.60 pence.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

10-26-20 0707ET

Stocks mentioned in the article
ChangeLast1st jan.
AVIVA PLC 1.11% 336.1 Delayed Quote.-20.61%
MSCI UNITED KINGDOM (STRD, UHD) 1.04% 1009.276 Real-time Quote.-17.73%
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Financials
Sales 2020 47 533 M 63 547 M 63 547 M
Net income 2020 1 632 M 2 182 M 2 182 M
Net Debt 2020 5 016 M 6 706 M 6 706 M
P/E ratio 2020 8,06x
Yield 2020 6,04%
Capitalization 13 195 M 17 605 M 17 641 M
EV / Sales 2020 0,38x
EV / Sales 2021 0,37x
Nbr of Employees 31 181
Free-Float 97,1%
Chart AVIVA PLC
Duration : Period :
Aviva plc Technical Analysis Chart | AV. | GB0002162385 | MarketScreener
Technical analysis trends AVIVA PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 376,86 GBX
Last Close Price 3,36 GBX
Spread / Highest target 14 777%
Spread / Average Target 11 113%
Spread / Lowest Target 6 340%
EPS Revisions
Managers
NameTitle
Amanda Blanc Chief Executive Officer & Director
Mark George Culmer Non-Executive Chairman
Nitinbhai Babubhai Maganbhai Amin Chief Operating Officer
Jason Michael Windsor CFO, Executive Director & Chief Investment Officer
Michael Mire Independent Non-Executive Director
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