AXA Launches Secondary Offering of US Subsidiary
March 19 2019 - 2:48AM
Dow Jones News
By Nathan Allen
AXA SA (CS.FR) said late Monday that it will launch a secondary
public offering of shares in its U.S. subsidiary AXA Equitable
Holdings Inc. (EQH).
The French insurance group said it will offer 40 million shares
in the U.S. company, and has granted the option for underwriters to
acquire a further 6 million shares.
In parallel, AXA will sell another 30 million shares in AXA
Equitable Holdings back to the U.S. company.
Following completion of the offer, AXA's stake in AXA Equitable
Holdings will fall below 50%.
Axa will subsequently take a minority position on the AXA
Equitable Holdings board, nominating three out of nine
directors.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
March 19, 2019 02:33 ET (06:33 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Axa (EU:CS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Axa (EU:CS)
Historical Stock Chart
From Sep 2023 to Sep 2024