Linklaters advises on Prudential’s public offer and international placing of new shares on the Hong Kong Stock Exchange

Linklaters advised the joint global coordinators and joint bookrunners on Prudential plc’s concurrent Hong Kong SAR public offering, and international placing of, up to 5%. of its issued share capital (approximately 130.8 million new shares) on the Hong Kong Stock Exchange. Prudential has a dual primary listing on the Hong Kong Stock Exchange and the London Stock Exchange.

The transaction is expected to raise HK$22.5bn (approximately US$2.9bn), with the proceeds being used to maintain and enhance Prudential’s flexibility in light of the breadth of opportunities to invest and growth in Asia and Africa, as well as contributing to the company’s central stock of liquidity to further increase its financial flexibility.

The Linklaters team was led by Hong Kong corporate partners Iris Yeung, Gilbert Li and Christopher Yip and capital markets partners Pam Shores and John Lane from the firm’s London office.

Partner Iris Yeung, commented:

“Linklaters has a wealth of experience advising on some of the region’s most important transactions in the insurance sector. We are grateful to have played our part in this commercially significant and strategic transaction, consolidating the firm’s long-standing experience in the equity space.”