Pru unveils secondary Singapore listing

Prudential is planning a secondary listing on the Singapore Stock Exchange in addition to its dual primary listing in Hong Kong.

The listing gives Pru the ability to attract more investors before its massive planned rights issue to fund its $35.5bn agreed takeover of AIG's Asian businesses. Pru expects to publish its rights issue prospectus on 5 May and has set a 24 May record date to participate in the issue. CEO Tidjane Thiam says the plans for the group's dual primary listing in Hong Kong are well on track. "Historically the UK has been, and will remain, the largest market for our investors and we are committed to our London listing. In addition to this presence, we are developing two more significant tra...