J.P. Morgan Securities Places 57 Million M&G Shares at GBP2.05
October 23 2019 - 1:48AM
Dow Jones News
By Adria Calatayud
Shareholders in M&G PLC (MNG.LN) have sold 57 million shares
in the company at 2.05 pounds ($2.65) a share, following its
demerger from Prudential PLC (PRU.LN), broker J.P. Morgan
Securities PLC said Wednesday.
The sale price represents a 1.2% premium to Tuesday's closing
price of GBP2.03.
The share sale raised gross proceeds of GBP117 million, which
will be distributed to the entitled Prudential American depositary
receipt holders, J.P. Morgan Securities said. J.P. Morgan said it
was depositary of the M&G shares following the company's
spinoff from Prudential, which took effect earlier this week.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
October 23, 2019 02:33 ET (06:33 GMT)
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