Business
Launch of USD 1.2 billion share buyback programme
Prudential PLC has announced the launch of a USD 1.2 billion share buyback programme, intended to be completed by December 18, 2026, to reduce issued share capital and return capital to shareholders. This programme comprises USD 500 million in recurring capital returns and USD 700 million from the net proceeds of the ICICI Prudential Asset Management Company Limited IPO, with any remaining IPO proceeds to be returned in 2027. The buyback, which commenced on January 6, 2026, will involve the purchase of up to approximately 3% of the company's issued share capital, with purchased shares intended to be cancelled. Disclaimer*
About this update from Prudential Plc
[{"type":"text","content":"\n\n \nPrudential announces launch of USD 1.2 billion share buyback programme\n \nPrudential plc (the \"Company\") announces that it will commence a buyback programme of its ordinary shares up to a maximum aggregate amount of USD 1.2 billion (the \"Programme\"). Given the size of the Programme, it is intended that it will be completed by no later than 18 December 2026.\n \nThe purpose of the Programme is to reduce the issued share capital of the Company in order to return capital to shareholders. The Directors consider the Programme to be in the best interests of the Company and of its shareholders generally.\n \nAnil Wadhwani, Chief Executive Officer, said: \"I am pleased with the progress we are making in executing our strategy. The significant growth opportunities ahead of us have not changed and we remain firmly focused on creating long-term shareholder value through high quality, sustainable growth, and consistent delivery of shareholder returns.\"\n \nOur capital management programme was communicated on 27 August and is expected to return to shareholders over USD 5 billion over the period 2024-2027, before the intended return to shareholders of the net proceeds from the initial public offering of ICICI Prudential Asset Management Company Limited (\"IPAMC IPO\").\n \nWe announced on 23 December 2025 that we had completed the final tranche of a USD 2 billion buyback programme in 2025 and on 19 December 2025 that we had completed the IPAMC IPO.\n \nAccordingly, we will now commence a buyback of USD 1.2 billion to be executed in 2026, comprising USD 500 million of recurring capital returns and USD 700 million of net proceeds from the IPAMC IPO. The balance of the net proceeds from the IPAMC IPO will be returned to shareholders during 2027.\n \nThe pace, timing of and form of the proposed returns of capital will be subject to market conditions and execution considerations, including discretion given to a third party for execution during closed periods.\n \nTerms of the Programme\n \nThe Company has entered into an arrangement with J.P. Morgan Securities plc (\"JPM\") (acting as riskless principal) to conduct the buyback in respect of the Programme on its behalf and to make trading decisions in respect of the Programme independently of the Company (the \"Agreement\").\n \nTh...