AXA Raises $4.02 Billion From AXA Equitable Holdings IPO
May 14 2018 - 1:35PM
Dow Jones News
By Nathan Allen
AXA SA (CS.FR) said Monday that it raised $4.02 billion from the
initial public offering of its U.S. subsidiary AXA Equitable
Holdings Inc. (EQH).
The French insurer said it sold 24.5% of AXA Equitable
Holdings's share capital at $20 a share for a total of $2.75
billion.
AXA also said it issued $750 million of mandatory exchangeable
bonds, which will mature in 2021, and raised $500 million in
additional proceeds.
AXA said it considers the financing of its planned $15.3 billion
acquisition of insurer XL Group Ltd. (XL) is now secured, as it is
not dependent on the issuance of any additional debt.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
May 14, 2018 13:20 ET (17:20 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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