Prudential PLC Sees India JV Listing at $12 Billion Valuation, Bloomberg Says, Citing Sources

Dow Jones2025-03-05

--Prudential PLC could seek a valuation of around $12 billion for its asset-management joint venture with India's ICICI Bank, Bloomberg reports, citing unnamed sources.

--The Asia and Africa-focused insurance-and-investment company could file a draft prospectus for an initial public offering in Mumbai as early as May, Bloomberg reports.

--Prudential PLC said last month that it was considering listing the entity and divesting some of its shares through the process. It intends to return net proceeds from such a transaction to shareholders.

--Prudential PLC declined to comment to Reuters, while ICICI didn't respond to its request.

Full story: https://tinyurl.com/v48he78z

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

March 05, 2025 05:21 ET (10:21 GMT)

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