Axa Equitable Holdings Inc. has filed an automatic shelf registration relating to the sale of up to 237,162,500 of its common shares by selling stockholder, Axa.
The proposed maximum offering price is $21.53 per share, equivalent to a maximum aggregate price of $5.11 billion.
Axa will receive all of the net proceeds from the offering. The French insurer said June 4 that it intends to sell 40 million Axa Equitable shares to Morgan Stanley and Barclays, as the underwriters of the registered public offering of the shares.
Axa also granted the underwriters the option to acquire up to 6 million additional shares, indicating a gross offering size, based on Axa Equitable's June 4 closing price, of $966 million.