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Source: The Hindu BusinessLine

The Hindu BusinessLine
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Markets
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1 min
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26 Aug
Published
Markets
1 min read· The Hindu BusinessLine

Prudential plans 2% stake sale in ICICI Prudential AMC

Prudential plans to sell a 2% stake in ICICI Prudential AMC for about $333 million. The proposed transaction would bring the AMC’s combined promoter holding down to 85.6%.

The planned sale concerns Prudential’s ownership in the asset management company. The report describes a proposed transaction, not a completed sale, so the lower promoter shareholding represents the position expected after the deal rather than a change already confirmed.

The roughly $333 million figure is the stated value of the proposed stake sale. The supplied report does not identify a buyer, give a sale price per share or specify when the transaction could take place. It also does not state how the stake would be sold.

The 85.6% figure refers to the AMC’s promoters together, not to Prudential’s individual holding. A separate post-sale shareholding figure for Prudential has not been provided. Even after the proposed reduction, the combined promoter stake would remain a substantial majority of the company’s ownership.

For readers tracking the AMC, the confirmed information is therefore limited to the proposed stake size, its approximate value and the expected combined promoter holding. The report does not announce any accompanying change to the AMC’s operations, staffing or products.

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Source: The Hindu BusinessLine