Prudential Announces Share Buyback to Optimize Capital Structure

Prudential ( (GB:PRU) ) has issued an update.

Prudential plc announced the purchase of 260,000 of its ordinary shares through Barclays Securities Limited on the London Stock Exchange. The shares were bought at an average price of GBP 7.6800 and will be canceled, reducing the total number of shares in issue to 2,626,427,013. This transaction is part of a buyback program authorized at the 2024 Annual General Meeting, aiming to optimize the company’s capital structure and enhance shareholder value.

More about Prudential

Prudential plc is a company that provides life and health insurance as well as asset management services across 24 markets in Asia and Africa. The company aims to be a trusted partner by offering simple and accessible financial and health solutions. Prudential has dual primary listings on the Hong Kong and London Stock Exchanges and is also listed on the Singapore and New York Stock Exchanges. It is part of the Hang Seng Composite Index and participates in the Shenzhen-Hong Kong and Shanghai-Hong Kong Stock Connect programmes.

YTD Price Performance: 21.10%

Average Trading Volume: 7,824,612

Technical Sentiment Consensus Rating: Hold

Current Market Cap: £19.77B

For detailed information about PRU stock, go to TipRanks’ Stock Analysis page.