UK insurer Prudential sets pricing in US$2.4 billion Hong Kong stock placement

//UK insurer Prudential sets pricing in US$2.4 billion Hong Kong stock placement

UK insurer Prudential sets pricing in US$2.4 billion Hong Kong stock placement

Prudential, the biggest UK insurer by market value, said it expects to raise HK$18.5 billion (US$2.4 billion) from a share placement in Hong Kong to repay older debt and fund its global expansion.The London-based company plans to sell up to 130.8 million shares at HK$143.80 each, representing a 2.6 per cent discount to its closing price of HK$147.70 in Hong Kong on Friday. The firm last week indicated selling the stake at no higher than HK$172 each.“Prudential is a growth business exclusively…

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By | 2021-09-26T11:15:28+00:00 September 26th, 2021|Business|Comments Off on UK insurer Prudential sets pricing in US$2.4 billion Hong Kong stock placement