Prudential lists in Hong Kong and Singapore

Prudential has finally listed on the Hong Kong and Singaporean stock exchanges.

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The listings, which had been planned for 11 May, will give the company a stronger platform for its planned takeover of AIG’s Asian insurance arm AIA.

Tidjane Thiam, group chief executive said: "Our listings in Hong Kong and Singapore will provide us with a strong platform from which to continue to take advantage of the significant opportunities across the region.  

“These additional listings offer a wide range of investors the chance to invest in Prudential and confirm our increasing focus on Asia.”
Prudential said the shares were by way of introduction and that no new shares were being issued or sold to the public or investors.

The company first announced plans to list in Asia in March as part of the preparation for its intended acquisition of AIA. However, the deal has met fairly heavy resistance from its UK shareholders so far, with Neptune Investment Management’s Robin Geffen leading calls for shareholders to oppose the transaction.

Despite the opposition, Prudential finally launched its £14.5bn rights issue last week to raise cash for the deal. It had previously been forced to postpone the issue after the Financial Services Authority expressed concern the purchase would leave the company under-capitalized.

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