Prudential PLC for $ 2.5 billion – $ 3.0 billion stock increase; 2020 Pretax Profit Rose

By Ian Walker

 

The Prudential PLC said on Wednesday that it is considering a $ 2.5 billion increase to $ 3 billion when the division of its US operations is completed, as it reported a net profit of 9.3% for 2020.

The insurance and investment business said that all stock increases will take place through a global offering to institutional and Hong Kong investors.

Prudential expects the merger from Jackson Financial Inc. to be completed in the second quarter of this year. The company previously said it plans to wind up its U.S. operations in the second quarter of this year and list them on the New York Stock Exchange.

Prudential made an IFRS net profit from continuing operations of $ 2.12 billion for the year, compared to $ 1.94 billion in 2019.

Adjusted operating income – one of the company’s preferred measures that removes exceptional and other non-recurring items – was $ 5.51 billion compared to $ 5.31 billion.

 

Write to Ian Walker at [email protected]

 

(END) Dow Jones Newswires

03 March 2021 04:07 ET (09:07 GMT)

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