AXA withdraws $ 1.8 billion from the sale of AXA Equitable shares
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(AOF) – Axa has announced the successful completion of a 60 million share offering of its US subsidiary AXA Equitable Holdings (EQH) at US $ 20.25 per share, and the sale of 30 million shares to EQH. same price. The net proceeds of these disposals amount to US $ 1.8 billion or € 1.6 billion. As a result of this transaction, the insurer's shareholding in EQH decreased from 72.2% of the outstanding common shares to 59.3%.
Axa also granted the syndicate banks an option to acquire 9 million additional shares of EQH within 30 days. The potential additional product is up to $ 0.2 billion.
"Axa continues its transformation with the success of this new EQH equity offering, which represents a new step in the evolution of AXA's business profile towards its strategic target segments and increased financial flexibility for the Group", said Thomas Buberl, Chief Executive Officer of AXA.