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PRU's Indian Joint Venture Asset Manager IPAMC Raises ~USD536M Through Pre-Listing Private Placement
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PRU (02378.HK) announced that it had completed the pre-listing private placement for its Indian joint venture asset manager IPAMC, selling a total of 4.5% of its equity. This transaction involved selling around 12.3557 million shares to multiple investors and around 9.8852 million shares to ICICI Bank according to the agreement. With a price set at INR2,165 per share, it raised a total of over INR48 billion, equivalent to around USD536 million. The net proceeds, along with potential IPO proceeds, are intended to be fully returned to PRU shareholders upon obtaining approval from relevant regulatory authorities and shareholders. AAStocks Financial News |
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