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1,055.00 -20.50 (-1.91%)

Bid:

1,055.50

Ask:

1,056.00

Spread: 0.50 (0.047%)

Market Cap: £26.43b

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IN BRIEF: Prudential starts USD1.2 billion buyback amid IPO proceeds

Tue, 06th Jan 2026 10:20

Prudential PLC - London-based insurer focused on Asia and Africa - Launches a USD1.2 billion share buyback programme, which it expects to complete by late December this year. JPMorgan Securities PLC will conduct the programme on Prudential's behalf. The buyback represents USD500 million in capital returns, Prudential says, plus USD700 million in net proceeds from the initial public offering in India of ICICI Prudential Asset Management Co Ltd.

Late last month, Prudential completed a USD2 billion buyback programme first announced in June 2024, as well as a smaller GBP24.6 million conducted to neutralise scrip dividend share issuance. It confirms on Tuesday plans announced in August for over USD5 billion in returns to shareholders between 2024 and 2027, excluding the IPO proceeds from India. It says the balance of the IPO net proceeds will be returned to shareholders during 2027.

"I am pleased with the progress we are making in executing our strategy. The significant growth opportunities ahead of us have not changed, and we remain firmly focused on creating long-term shareholder value through high quality, sustainable growth, and consistent delivery of shareholder returns," says Chief Executive Officer Anil Wadhwani.

Current stock price: 1,187.00 pence

12-month change: up 86%

By Tom Waite, Alliance News editor

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