AXA Equitable Holdings IPO Priced at $20 Each
May 10 2018 - 1:38AM
Dow Jones News
By Max Bernhard
French insurance giant AXA SA (CS.FR) said Thursday that shares
of its U.S. subsidiary AXA Equitable Holdings Inc. will be priced
at $20 each, in its IPO of 137.25 million existing shares,
translating to proceeds of $2.75 billion.
AXA had said earlier it expects an IPO price of between $24 and
$27 a share for the U.S. unit.
The shares sold by AXA represent about 25% of existing issued
and outstanding shares of the subsidiary, AXA said.
Shares are expected to start trading Thursday on the New York
Stock Exchange and the offering is expected to close on May 14, AXA
said.
Write to Max Bernhard at Max.Bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
May 10, 2018 01:23 ET (05:23 GMT)
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