Prudential Says It Is Financially Resilient; Mulls Jackson IPO Options
March 24 2020 - 5:23AM
Dow Jones News
By Sabela Ojea
Prudential PLC said Tuesday that it is financially resilient and
that it is still considering options other than the minority
initial public offering it is preparing for its U.S. business
Jackson.
"While the full consequences of Covid-19 are still emerging,
Prudential has a highly resilient business model and remains well
placed to continue to create value for shareholders," Chief
Executive Mike Wells said.
The insurance-and-investment business said that, alongside
preparations for a minority initial public offering for Jackson, it
is evaluating other options.
Prudential said on March 11 that the best way to introduce a
third party to finance the U.S. arm was "to seek a listing of
Jackson in the U.S. in due course, subject to market
conditions."
Shares at 0842 GMT were up 55.60 pence, or 7%, at 851.80
pence.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
March 24, 2020 05:08 ET (09:08 GMT)
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