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    PRU   GB0007099541

PRUDENTIAL PLC

(PRU)
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Prudential to Raise US$2.4 Billion From Hong Kong Offer

09/26/2021 | 04:29pm EDT

By P.R. Venkat

Prudential PLC will raise $2.4 billion by issuing new shares, proceeds of which will be used by the insurer to redeem high-coupon debt due in six months and invest for growth.

The U.K. insurer will sell 130.8 million new shares in the Hong Kong offer at a maximum price of 143.8 Hong Kong dollars per share (US$18.46), Prudential said late Sunday.

Dealings in the shares will start from Oct. 5, the insurer said.

"Our share offer allows investors to join us on our journey as we execute our strategy which we believe will result in long-term delivery of future shareholder returns through value appreciation, with a focus on achieving long-term double-digit growth in embedded value per share," Chief Executive Mike Wells said.

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

09-26-21 1829ET

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Analyst Recommendations on PRUDENTIAL PLC
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Financials
Sales 2021 21 172 M 29 193 M 29 193 M
Net income 2021 3,11 M 4,28 M 4,28 M
Net Debt 2021 - - -
P/E ratio 2021 -75,6x
Yield 2021 0,87%
Capitalization 39 641 M 54 732 M 54 659 M
Capi. / Sales 2021 1,87x
Capi. / Sales 2022 1,56x
Nbr of Employees 16 226
Free-Float 99,6%
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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 1 450,50 GBX
Average target price 1 644,45 GBX
Spread / Average Target 13,4%
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
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