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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.
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(END) Dow Jones Newswires
October 23, 2019 02:33 ET (06:33 GMT)
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