5th Jan 2024 09:50
Prudential PLC - London-based, Asia-focused life and health insurer and asset manager - Contracts Barclays Capital Securities Ltd, part of Barclays PLC, to conduct a share buyback programme that will repurchase about 3.9 million shares at a maximum cost of GBP38 million. At the current market price, 3.9 million Prudential shares are worth GBP32.3 million. The buybacks are intended to offset the dilution that will be caused by the vesting of awards under Prudential's employee and agent share schemes.
Prudential, which has shifted its business more and more toward Asia in recent years, also notes it continues to look for ways to focus those share schemes on its Hong Kong listing and to enhance liquidity of its shares on that market.
Current stock price: 825.40 pence, down 1.2% in London on Friday morning
12-month change: down 32%
By Tom Waite, Alliance News editor
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