Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Prudential plc
  6. News
  7. Summary
    PRU   GB0007099541

PRUDENTIAL PLC

(PRU)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Prudential Plans to Raise Up to US$2.89 Billion in Hong Kong Share Offer

09/19/2021 | 04:57pm EDT

By P.R. Venkat

Prudential PLC is planning to raise up to 22.49 billion Hong Kong dollars ($2.89 billion) by issuing new shares as the insurer looks to redeem high-coupon debt due in six months and invest for growth.

The U.K. insurer is planning to sell 130.78 million new shares in the Hong Kong offer and has set a maximum price of HK$172 per share, Prudential said Monday.

The final price is expected to be determined on Sept. 25 and the new shares would start trading on the Hong Kong Stock Exchange on Oct. 4.

"The board believes that there are clear benefits to the group and to its shareholders as a whole from increasing its Asian shareholder base and the liquidity of its shares in Hong Kong," Prudential said.

On business prospects, the company said that significant Covid-19 related restrictions continue in many markets including Indonesia, Malaysia and Thailand. There also was continuing uncertainty over the extent and the timing of the reopening of border between Hong Kong and mainland China.

"Prudential is now entirely focused on long-term structural growth opportunities in Asia and Africa," Chief Executive Mike Wells said. "The share offer will maintain and enhance Prudential's financial flexibility in light of the breadth of opportunities to invest for growth."

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

09-19-21 1857ET

All news about PRUDENTIAL PLC
10/25PRUDENTIAL : Asks Banks To Arrange Fixed Income Investor Calls
MT
10/24PRUDENTIAL : Fixed income investor engagement and potential benchmark transaction and refi..
PU
10/22PRUDENTIAL : Plans Redemption of High Coupon Bonds
MT
10/22PRUDENTIAL : to Redeem $2.25 Billion in Notes, Securities
MT
10/22GENERAL ANNOUNCEMENT : :Redemption of certain high coupon debt and monitoring of refinanci..
PU
10/22PRUDENTIAL : Redemption of certain high coupon debt and monitoring of refinancing opportun..
PU
10/22Prudential to Redeem $2.25 Billion of Bonds
DJ
10/22GENERAL ANNOUNCEMENT : :Change in issued share capital
PU
10/19PRUDENTIAL : confirms board committee changes
PU
10/19PRUDENTIAL : confirms Board Committee changes - Form 6-K
PU
More news
Analyst Recommendations on PRUDENTIAL PLC
More recommendations
Financials
Sales 2021 21 172 M 29 149 M 29 149 M
Net income 2021 3,11 M 4,28 M 4,28 M
Net Debt 2021 - - -
P/E ratio 2021 -77,7x
Yield 2021 0,85%
Capitalization 40 693 M 56 091 M 56 026 M
Capi. / Sales 2021 1,92x
Capi. / Sales 2022 1,60x
Nbr of Employees 16 226
Free-Float 99,6%
Chart PRUDENTIAL PLC
Duration : Period :
Prudential plc Technical Analysis Chart | PRU | GB0007099541 | MarketScreener
Technical analysis trends PRUDENTIAL PLC
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Last Close Price 14,89 GBX
Average target price 1 644,45 GBX
Spread / Average Target 10 944%
EPS Revisions
Managers and Directors
Michael Andrew Wells Group Chief Executive Officer & Executive Director
Mark Thomas FitzPatrick Group COO, CFO & Executive Director
Shriti Vinodkant Vadera Chairman
Stuart James Turner Executive Director & Chief Compliance Officer
Philip John Remnant Senior Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
PRUDENTIAL PLC8.69%55 117
AXA22.64%66 358
METLIFE, INC.39.81%56 247
PRUDENTIAL FINANCIAL, INC.45.78%44 022
MANULIFE FINANCIAL CORPORATION10.91%39 447
AFLAC INCORPORATED28.13%38 219