Business
Overseas Regulatory Announcement – PAMB ownership
Prudential plc has agreed to increase its ownership interest in Prudential Assurance Malaysia Berhad (PAMB) to 70% by acquiring an additional 19% stake in its holding company, SHS, for approximately US$375 million (RM 1.52 billion) from Detik Ria. This transaction, considered a connected transaction under the HK Listing Rules, is subject to reporting and announcement requirements but exempt from circular and independent shareholder approval. The acquisition is expected to be accretive to Prudential Group's IFRS earnings per share, traditional embedded value, and IFRS shareholders' equity per share. Following completion, Prudential will cooperate with Detik Ria regarding the divestment of its remaining 30% shareholding in SHS. Disclaimer*
About this update from Prudential Plc
[{"type":"text","content":"\n\nThe following text is the text of an announcement released to the Stock Exchange of Hong Kong Limited on 22 January 2026 pursuant to rule 14A.35 of the Rules Governing the Listing of Securities (the \"Listing Rules\") on the Stock Exchange of Hong Kong.\n \nHong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and the Singapore Exchange Securities Trading Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. \n \n \n(Incorporated and registered in England and Wales with limited liability, registered number 01397169)\n(Stock Code: 2378)\n \nPRUDENTIAL AGREES TO INCREASE OWNERSHIP INTEREST IN PRUDENTIAL ASSURANCE MALAYSIA BERHAD TO 70% FOR APPROXIMATELY US$ 375 MILLION\n \nCONNECTED TRANSACTION WITH DETIK RIA\nIN RELATION TO THE PROPOSED ACQUISITION OF INTERESTS IN SHS\n \nThe attached announcement is being released by Prudential plc on the date below. \n \n \nBy order of the Board\nPrudential plc\nTom Clarkson\nCompany Secretary\n \nHong Kong, 22 January 2026\n \nAs at the date of this announcement, the Board of Directors of Prudential plc comprises:\n \nChair\nShriti Vadera\n \nExecutive Director\nAnil Wadhwani (Chief Executive Officer)\n \nIndependent Non-executive Directors\nJeremy David Bruce Anderson CBE, Arijit Basu, Chua Sock Koong, Guido Fürer, Ming Lu, \nGeorge David Sartorel, Mark Vincent Thomas Saunders FIA, FASHK, Claudia Ricarda Rita Suessmuth Dyckerhoff and Jeanette Kai Yuan Wong\n \n* For identification purposes\n \n\n\nPRUDENTIAL AGREES TO INCREASE OWNERSHIP INTEREST IN PRUDENTIAL ASSURANCE MALAYSIA BERHAD TO 70% FOR APPROXIMATELY US$ 375 MILLION\n \nCONNECTED TRANSACTION WITH DETIK RIA IN RELATION TO THE PROPOSED ACQUISITION OF INTERESTS IN SHS \n \nOn 22 January 2026, PCHL (a wholly-owned indirect subsidiary of Prudential) (as purchaser) and Detik Ria (as seller) entered into a Share Purchase Agreement for the sale and purchase of 19% of the issued share capital of SHS at a total consideration of RM 1.52 billion (approximately US$ 37...