Prudential to focus on Asia after demerger

Pedro Gonçalves
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Prudential to focus on Asia after demerger

Prudential has completed the demerger of M&G, and shares of M&G have been admitted to trading on the London Stock Exchange's main market.

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."

The fund management and UK insurance business of Prudential has been valued at about £5.6bn following its split from the British company. This market value could be big enough for the new business to qualify to enter the FTSE 100, which is the London stock market's benchmark index of the biggest blue-chip companies.

Prudential is now an Asia-led portfolio of businesses, focused on structural growth markets"

Prudential investors have been handed one share in M&G for every share they own in Prudential in a demerger that has been in the works since March last year, when the insurance giant first announced its plans for the break-up.

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.

 

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