HONG KONG (Reuters) – Prudential is seeking to raise $2.41 billion by pricing its stock at HK$143.8 each in its Hong Kong share sale, according to two sources with direct knowledge of the matter. Prudential sold 130.8 million shares, or 5% of its issued share capital in the deal, which was the first follow-on share placement to be open to Hong Kong retail investors. The price guidance given to investors represented a 3% discount to the stock’s closing price in London on Friday. Prudential, the diversified insurance group, said it planned to use most of the funds raised to pay down high-coupon debt within six months. ($1 = 7.7854 Hong Kong dollars)(Reporting by Scott Murdoch; Editing by Sam Holmes)

Source: MetroXpress September 25, 2021 00:56 UTC