(Bloomberg) -- Prudential Plc is telling prospective investors it plans to price its Hong Kong share offering at HK$143.80 apiece, according to a person familiar with the matter.
The insurance giant is selling up to 130.8 million shares, about 5% of its issued share capital, at a maximum price of HK$172 each. At HK$143.80, Prudential is set to raise HK$18.8 billion as it eyes long-term growth in Asia and Africa, where Group Chief Executive Mike Wells has said the company will be “entirely focused on long-term structural growth opportunities.”
The prospective price represents a discount of 2.9% to its last close in London, the person said, asking not to be identified as the information is private.
Citigroup Inc., Goldman Sachs Group Inc., CLSA Ltd. and HSBC Holdings Plc are joint global coordinators for the offering. Bank of America Corp., Credit Suisse Group AG, UBS Group AG and UOB Kay Hian are acting as joint bookrunners. Rothschild & Co is financial adviser to the company for the deal.
Read more: Prudential Targets Up to $2.89 Billion in HK Share Offering
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