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Prudential Completes Demerger Of M&G, Shares Begin Trading In London

(Alliance News) - Prudential PLC said on Monday it has completed demerger of M&G PLC, and shares ...

Alliance News 21 October, 2019 | 9:33AM
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(Alliance News) - Prudential PLC said on Monday it has completed demerger of M&G PLC, and shares of M&G have been admitted to trading on the London Stock Exchange's main market.

The life insurance company announced plans to demerge M&G, its UK & Europe business, back in March 2018, resulting in two separately listed companies. Prudential itself will now operate in Asia, Africa and the US.

The company added that shareholders have retained their shares in Prudential and have also received shares in M&G.

Mike Wells, group chief executive of Prudential, said: "Prudential is now an Asia-led portfolio of businesses, focused on structural growth markets. Our businesses in Asia and the US have leadership positions in their chosen segments, and we now operate in eight markets in Africa. I am confident that the best is yet to come for Prudential's customers and shareholders."

Prudential shares were down 9.2% in London at 1,368.00 pence each on Monday morning.

By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
M&G PLC Ordinary Shares 228.20 GBX 0.62 -
Prudential PLC 1,320.00 GBX 0.19

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Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

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