UK Based insurer Prudential undertook some steps to underpin its record-breaking right issue by putting forward plans for a listing in the Asian market, while launching a round of talks specifically aimed at winning over the investors in Britain who seem to be skeptical of the firms and its plans.
Reports are that Prudential is looking to raise funds worth $21 Billion, in order to generate enough capital for a $35.5 Billion acquisition of AIG's Asian business. On Monday, the insurer shared that it would list its shares in Hong Kong before the rights issue gets rolling in May.
Prudential is currently listed in London. With the development, the company, which had previously just shared that it would float its shares in Hong Kong "in due course", will significantly, broadens the pool of investors who can participate in the rights issue, which has emerged as the largest ever takeover-related cash call.
Although the plan sounds spot-on, it seems that Chief Executive Tidjane Thiam will find it difficult to impress investors.
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