PRUDENTIAL (02378.HK): Acquires Additional Stake in Malaysian Life Insurance Business for US$375 Million, Raising Holding to 70%

NewTimeSpace · 2026/01/22 16:39 · By Zeyu Wu

On January 22, PRUDENTIAL announced that its indirectly wholly-owned subsidiary PCHL has agreed to acquire a 19% equity stake in SHS, the holding company of its Malaysian life insurance business, from Detik Ria for approximately US$375 million (1.52 billion Malaysian ringgit). Upon completion of the transaction, Prudential’s ownership in SHS will increase from 51% to 70%, further consolidating its presence in the Southeast Asian life insurance market.

NewTimeSpace News: PRUDENTIAL (02378.HK) announced in a filing on January 22, 2026, that its indirectly wholly-owned subsidiary PCHL has entered into a share purchase agreement with Detik Ria to acquire 19% of the issued share capital of SHS for 1.52 billion Malaysian ringgit (approximately US$375 million).

According to the announcement, after the completion of the transaction, the equity ownership ratios of PCHL and Detik Ria will become 70% and 30% respectively. Additionally, as Detik Ria is a major shareholder of SHS (an indirect subsidiary of Prudential), this transaction constitutes a connected transaction.

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