Prudential braves Hong Kong slide to raise £2bn through share issue
The Hang Seng index fell 3% overnight on concerns that property group Evergrande might be about to collapse
Company
Prudential PLC
LON:PRU
Prudential PLC is a provider of life insurance, investment and savings products. In October 2019 it spun off its UK-focused arm M&G PLC, leaving Prudential as an Asia-led group. Prudential PLC has 20 million customers and is listed on stock exchanges in London, Hong Kong, Singapore and New York. Prudential PLC is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.
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Are Prudential shares worth a punt following Jackson demerger? This leading bank thinks so. Find out why
"The stock has recovered as we expected it to once the demerger was finally announced, and we think this removes a key uncertainty that should reduce the cost of equity,” Credit Suisse said in a note to clients
Prudential impresses with half-year numbers despite big loss
An interim dividend of 5.37 cents per share was flat compared to a year ago
Prudential, Citigroup and HSBC consortium conceive plan to close coal-fired power plants in Asia - report
The group plans to create public-private partnerships to buy out the heavily polluting plants and wind them down within 15 years
Looking for undervalued blue-chip stocks? Try the insurance sector, says this influential American bank
Morgan Stanley has found what it thinks are some anomalous valuations
Prudential shares dive as Jackson Life demerger is delayed
"The US demerger will complete Prudential's structural transformation into a business solely focused on the growth opportunities of Asia and Africa"
Prudential latest to turn back on coal as insurer tightens emission goals
Stakes in any business that derives more than 30% of its income from coal will be sold
Prudential has a few potential share price catalysts on the way, Credit Suisse argues
It's unusual that a potential fundraising should be cited as a share price catalyst; Credit Suisse is on firmer ground with its assertion that the sale of Jackson National might prompt a reappraisal of the Pru
Prudential says Jackson demerger on track, to offer shares in Hong Kong
The UK life insurer confirmed its intention to follow the demerger with a retail offering of shares in Hong Kong
Prudential looks cheap compared to Asian rival, suggests broker
RBC estimates that the Pru trades at half the multiple of peer AIA
Prudential appoints top executives at Jackson ahead of demerger
Jackson will list on the New York Stock Exchange and will focus on growing in Asia and Africa
Prudential to raise up to US$3bn as Jackson demerger nears
Jackson will split off in the second quarter and list separately in New York
Archive
FTSE backslides despite strength of travel stocks; Wall Street surges as GameStop volatility continues
Up, up and away! Well, it was for travel stocks but on balance, UK equities are lower
The Pru is still a household name but the households have changed
"The man from the Pru" has gone the way of the knocker-upper, clippies on buses and Nippies in Lyon's corner shops. Does it have a future as a British company?
Prudential to demerge US arm Jackson next year and focus on Asia and Africa
More job cuts are also on the cards though the firm said it would maintain its HQ in London
Barclays cuts stance on asset manager M&G, but upgrades peer Phoenix Group
The global bank cut its stance for M&G to ‘underweight’ from ‘equal-weight' and reduced its target price to 189p from 202p
Prudential sells stake in US arm to Athene as part of reinsurance deal
Pru said Athene's investment will be deployed in US-based Jackson to strengthen its capital base ahead of a planned spin-off
Prudential sales in Asia drop 24% but profits up, Jackson IPO still on table
The Asia focused life insurer said it was continuing to prepare for various ways of spinning off its US arm including a possible minority IPO
Prudential looks at other options for Jackson spin-off after market turmoil
Other options are being evaluated to turn Jackson into an independent business.
Prudential bows to activist pressure with plans to spin out US business
The announcement that the life insurer will separate its Jackson business in the US follows break-up pressure from activist hedge fund Third Point, which owns a 5% stake in the group