trending Market Intelligence /marketintelligence/en/news-insights/trending/Rcp4VjkVsYbElRub52vHOQ2 content esgSubNav
In This List

Axa Equitable announces pricing of secondary common share offering

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration

Blog

Taking Loss Given Default Estimation to the Next Level: An Aspiration for All Creditors, Not Just Banks

Blog

Anticipate the Unknown A Fundamentals Approach to Detect Early Signs of Private Company Credit Deterioration

Blog

Insight Weekly: Banks pursue deals; offshore wind transmission; UK broadcasters vs. streamers


Axa Equitable announces pricing of secondary common share offering

Axa Equitable Holdings Inc. announced that the secondary public offering of 40 million of its common shares by Axa was priced at $20.50 per share.

The underwriters were given an option to purchase up to an additional 6 million common shares. The offering is expected to close March 25.

Axa Equitable will not receive any proceeds from the sale of shares. In connection with the offering, the company expects to buy back 30 million of its common shares from Axa. The purchase price will be equal to the per-share purchase price paid by the underwriters in the secondary offering, corresponding to an aggregate of approximately $600 million.

J.P. Morgan, Morgan Stanley and Citigroup are serving 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.