Business
Prudential plc - listing of new shares on HKSE
Prudential plc - listing of new shares on HKSE.
About this update from Prudential Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8751N\n Prudential PLC\n 04 October 2021\n \n \n \n \n \n This announcement is not for release, publication, distribution, directly or indirectly, in or into the United States or any other jurisdiction where such distribution is prohibited by law. \n \n \n \n \n \n NEWS RELEASE \n \n \n \n \n \n 4 October 2021 \n \n \n \n \n \n Prudential plc marks the listing of 130,780,350 new shares on the Hong Kong Stock Exchange\n \n \n \n \n \n On 30 September 2021, Prudential plc (\"Prudential\"), an insurer providing life and health insurance and asset management in Asia and Africa, announced that its Share Offer (as defined below) had been over-subscribed.\n \n \n \n \n \n Today, dealing in the 130,780,350 new shares issued under the Share Offer has commenced on the Main Board of the Hong Kong Stock Exchange under the stock code 2378. The new shares have also been listed on the Singapore Stock Exchange, and will be admitted to the Main Market of the London Stock Exchange and the premium listing segment of the Official List of the Financial Conduct Authority today.\n \n \n \n \n \n The new shares have been admitted following the completion of Prudential's recent Hong Kong public offer (the \"Public Offer\") and international placing (the \"Placing\") (together the \"Share Offer\"), raising approximately HK$18.5 billion or US$2.4 billion(1). The proceeds of the Share Offer will be used to maintain and enhance Prudential's financial flexibility in light of the breadth of opportunities to invest for growth in its chosen markets in Asia and Africa.\n \n \n \n \n \n Prudential has leading positions in Hong Kong and South-east Asia and sees the greatest growth opportunities in the largest economies of China, India, Indonesia and Thailand.\n \n \n \n \n \n The Group has distinctive competitive advantages, including\n its \n access to 83 per cent. of Mainland China's GDP and its \n pan-Asia asset manager, Eastspring which has top-10 positions in seven out of the 11 markets in which it operates\n , and a multi-channel distribution strategy which includes a leading agency force and an extensive bancassurance network with more than 28,000 bank outlets.\n \n \n \n \n \n Prudential raised equity in Hong Kong to grow its investor base in the region and to incre...