trending Market Intelligence /marketintelligence/en/news-insights/trending/BvhL799CePBaOlAK2CzJlA2 content esgSubNav
In This List

Axa selling Axa Equitable common shares

Blog

Insurance Underwriting Transformed How Insurers Can Harness Probability of Default Models for Smarter Credit Decisions

Blog

The World's Largest P&C Insurers, 2023

Blog

The Worlds Largest Life Insurers, 2023

Blog

Essential IR Insights Newsletter Fall - 2023


Axa selling Axa Equitable common shares

Axa is offering 40 million common shares of its subsidiary, Axa Equitable Holdings Inc.

The selling shareholder also granted underwriters a 30-day option to buy up to an additional 6 million common shares. Axa Equitable will not receive any proceeds from the offering.

Once the offering closes, Axa Equitable expects to buy back 30 million of its common shares from Axa. Upon the completion of the secondary offering and the share buyback plan, Axa's ownership of Axa Equitable's common shares will decrease to approximately 49.5% from approximately 60.1% of the issued and outstanding common shares.

J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. are acting as underwriters for the offering.