© Reuters. AXA fixed price for the IPO of AXA Equitable Holdings
AXA (PA:AXAF) has announced the pricing for the initial public offering (IPO) of its us subsidiary AXA Equitable Holdings Inc at $ 20 per share, or 2.745 million dollars in revenue. The offer shall start the day on the NYSE was completed on 14 may.
The insurance company will put it on the market 137,25 million shares AXA Equitable Holdings, representing approximately 24.5% of the existing shares, with an over-allotment option of 30 days for approximately $ 20.6 million of additional securities.
In addition, the group has set the offer price of $ 750 million of exchangeable bonds into shares AXA Equitable Holdings. These bonds will be issued on may 14, and will bear interest at a fixed rate of 7.25% per annum, payable semi-annually.
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