Prudential PLC
28 June 2000
LISTING OF PRUDENTIAL SHARES ON NEW YORK STOCK EXCHANGE
Prudential plc today announced it has listed on the New York Stock Exchange
(NYSE) and expects to raise total proceeds of approximately $209 million
through a Global Offer, which will be used for general corporate purposes.
Trading on the NYSE is expected to commence today at 10:00 a.m. (EST).
Commenting on the announcement, Jonathan Bloomer, Group Chief Executive of
Prudential plc, said:
'I am delighted our shares are now listed on the New York Stock Exchange. The
listing reflects our position as a leading international financial services
group with a worldwide operational presence.'
Philip Broadley, Group Finance Director of Prudential plc, said:
'The listing is a significant step in our continued development in the United
States and the rest of the world. The listing provides us access to the
world's largest capital markets and has broadened further our international
shareholder base.'
This press release is not an offer for sale of the securities in the United
States and the Securities may not be sold in the United States absent
registration or exemption from registration under the U.S. Securities Act of
1933, as amended. Any public offering of securities in the United States will
be made by means of a prospectus that may be obtained from Prudential plc (the
Company) containing detailed information regarding the 'Company'. The
Company has registered a portion of the offering in the United States.
Press Enquiries Analyst Enquiries
Tina Christou Carys Walshe
Prudential plc 020 7548 3719 Prudential plc 020 7548 3721
Stuart Blackmore
Prudential plc 020 7548 3520
The announcement has been issued by Prudential plc and has been approved for
the purposes of Section 57 of the Financial Services Act 1986 by Morgan
Stanley & Co. International Limited, which is regulated in the United Kingdom
by The Securities and Futures Authority Limited.
Notes for Editors:
Information on Prudential
Prudential plc is a leading international financial services group with a
market capitalisation of approximately £20 billion and funds under management
in excess of £170 billion at 31 December 1999. In the UK, Prudential is the
largest life insurance company and pension annuity provider. In the US,
Prudential owns Jackson National Life, the 20th largest US life insurance
company. Prudential is also one of the largest UK insurers in Asia with
operations in 10 countries and, in Europe, Prudential has entered into
strategic distribution arrangements with CNP Assurances in France and Signal
Iduna in Germany. Prudential's group-wide operations had new funds in-flows
of £18.6 billion in 1999, including £12.3 billion of insurance and investment
sales. Profit before tax in 1999 amounted to £750 million.
The Global Offer
Prudential plc issued 15 million shares in the form of Ordinary Shares and
American Depositary Shares in the US and international offerings, priced at
£9.24 per ordinary share and $27.82 per American Depositary Share. Prudential
expects to raise total proceeds of approximately $209 million through this
offering. Each American Depositary Share represents the right to receive 2
Ordinary Shares of 5 pence each and with one vote per share. Prudential has
granted the underwriters an over allotment option relating to 2.25 million
shares.
The syndicate
The syndicate for the Global Offer comprises:
Morgan Stanley Dean Witter global co-ordinator, lead manager and bookrunner
Cazenove & Co. co-lead manager
Goldman Sachs International co-lead manager
UBS Warburg co-lead manager
Not for distribution or release in or into the United States, Canada or Japan
or to U.S. persons
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