RE: Price action12 Feb 2025 20:34
Prudential's RNS today read as follows: 'Prudential plc announced today that it is evaluating a potential listing of ICICI Prudential Asset Management Company Limited involving the partial divestment of its shares, subject to market conditions, requisite approvals and other considerations. It is intended that following the completion of such a divestment, the net proceeds would be returned to shareholders. We will provide a further update at an appropriate time.'
Based on the above RNS, the Prudential share price was up 5.77% (.39p) as at the close of business today.
That upswing in one day was based on the fact that management has declared that it is 'evaluating a potential listing of ICICI Prudential Asset Management Company Limited and the net proceeds would be returned to shareholders'.
Now stop and think for a minute...
What will happen to the Prudential share price when the next RNS is made? For example 'Management's evaluation is complete, the divestment is confirmed and the net proceeds of £X will be returned to shareholders via special dividend and buyback (or similar)'.
Prudentials' next RNS on this subject will result in the next major upswing, probably circa 7-9%.
Not only that, Prudential will have excellent end of year financials to report on 20 March 2025.
The current Prudential share price is still near a 5 year low...
For me, Prudential is a growth stock, and the potential upside here is huge!
IMO & DYOR