25th Sep 2019 14:56
(Alliance News) - M&G PLC on Thursday said it expects its demerger from Prudential PLC, and subsequent listing in London, will occur no later than October 21.
The demerger was announced earlier on Wednesday. Life insurer Prudential had originally announced the move in March 2018.
M&G is the company's UK & Europe business, with Prudential to focus on Asia, Africa, and the US following the split.
The UK Financial Conduct Authority has now approved the prospectus outlining M&G's plans to list on London's Main Market. Prudential shares were 1.2% lower on Wednesday in London at 1,403.50 pence each.
By George Collard; [email protected]
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