PRUDENTIAL (02378.HK): Subsidiary proposes to sell up to 2.0% stake in ICICI Prudential Asset Management to meet Indian public shareholding requirements

NewTimeSpace · 2026/08/26 18:13 · By Boyuan Chen

NewTimeSpace News: On 26 August 2026, PRUDENTIAL (02378.HK) announced that its subsidiary PCHL proposes to sell up to 2.0% of its shareholding in IPAMC through the open market, expected to take place on 27 August 2026, to assist IPAMC in meeting India's minimum public shareholding requirement (15% within five years after the IPO); upon completion, PCHL will retain a 32.6% stake in IPAMC with its governance rights unchanged.

NewTimeSpace News: On 26 August 2026, Prudential plc announced that its subsidiary, Prudential Corporation Holdings Limited (PCHL), has notified ICICI Prudential Asset Management Company Limited (IPAMC) on the same day, and IPAMC has subsequently notified the National Stock Exchange of India Limited and BSE Limited, that PCHL intends to undertake a process of selling up to 2.0% of its shareholding in IPAMC through the open market (the Sale).

The announcement stated that the Sale is intended to assist IPAMC in progressively meeting India's minimum public shareholding requirement, which requires public shareholding of 15% within five years following the initial public offering on 19 December 2025. The Sale is expected to take place on 27 August 2026, and upon completion, PCHL will retain a 32.6% shareholding in IPAMC, with its governance rights in IPAMC remaining unchanged.

Prudential provides life and health insurance and asset management services in Greater China, ASEAN, India and Africa, with dual primary listings on The Stock Exchange of Hong Kong (2378) and the London Stock Exchange (PRU), a secondary listing on the Singapore Exchange (K6S) and an American Depositary Receipts listing on the New York Stock Exchange (PUK); it is a constituent stock of the Hang Seng Composite Index and is traded under the Shenzhen-Hong Kong Stock Connect and Shanghai-Hong Kong Stock Connect mechanisms.

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