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Axa closes secondary public offering of Axa Equitable common shares

AXA Equitable Holdings Inc. announced that the secondary public offering of 40 million of its common shares by Axa has been completed at a public offering price of $20.50 per share.

The underwriters exercised in full their overallotment option to purchase an additional 6 million shares of Axa Equitable's common stock.

Axa Equitable did not receive any proceeds from the secondary offering.

J.P. Morgan, Morgan Stanley and Citigroup served as joint lead book-running managers and underwriters for the offering. Barclays, BNP Paribas, Credit Agricole CIB, Deutsche Bank Securities, Goldman Sachs & Co. LLC, HSBC, Natixis, Société Générale, Credit Suisse, ING and UniCredit Capital Markets acted as joint book-running managers and underwriters.

Also, Axa Equitable disclosed that it bought back 30 million common shares from Axa.

After the offering and buyback, Axa's ownership in Axa Equitable decreased to 48.3% from 60.1%.