The repurchase represents about 3% of its issued share capital, based on the Jan 5 closing price
Published Tue, Jan 6, 2026 · 05:55 PM — Updated Tue, Jan 6, 2026 · 06:00 PM
[LONDON] Prudential will start a fresh share buyback of up to US$1.2 billion, as the company looks to return excess capital to investors after listing an Indian unit in December.
The buyback includes US$700 million of net proceeds from the ICICI Prudential Asset Management initial public offering, with the balance coming from “recurring capital returns”, according to a statement on Tuesday (Jan 6).
The repurchase represents about 3 per cent of its issued share capital, based on the Jan 5 closing price. It plans to complete the repurchase by Dec 18 of this year, it said.
Prudential, which has pivoted to Asia, is trying to boost its return on equity to make its shares more attractive to investors. Its shares were up 2.1 per cent at 8:30 am in London.
Prudential said in August it expected to return more than US$5 billion to shareholders over the period 2024 to 2027, a figure that did not include the intended return of net proceeds from the IPAMC listing. The balance of net proceeds from the IPO will be returned to shareholders during 2027, according to the statement.
The listing of the joint venture with ICICI Bank and an earlier private placement raised about US$1.4 billion. Prudential retains a roughly 35 per cent stake in the unit that currently has a market value of about US$15 billion.
Prudential, which provides life and health insurance and asset management services in Asia and Africa, completed a US$2 billion buyback in tranches last year. BLOOMBERG
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