By Olivia Bugault

AXA SA (CS.FR) said Monday that it has reduced its stake in its life-insurance subsidiary AXA Equitable Holdings, Inc. (EQH) to 38.9% from 40.1% after exercising of the over-allotment option by the underwriters.

The French insurance firm said the net proceeds from the exercise of the underwriters' option was $125 million, or $20.85 a share for a total of six million shares.

Write to Olivia Bugault at olivia.bugault@dowjones.com

(END) Dow Jones Newswires

July 09, 2019 01:33 ET (05:33 GMT)

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