By Frank Prenesti
Date: Monday 27 Sep 2021
LONDON (ShareCast) - (Sharecast News) - Insurance group Prudential has raised $2.4bn from its raising in Hong Kong after offering new shares in the company HK$143.80 (£13.51) each, the company said.
The majority of the net proceeds, around $2.25bn, was expected to be used to redeem existing high-coupon debt and the rest would contribute to contribute to investments in Asia and Africa.
The price represents a discount of 2.9% on the stock's last close of £13.92 in London. Prudential said in a statement to the Hong Kong stock exchange that dealings in the offer shares would commence on October 4, subject to approval.
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