Prudential Offers $1 Billion Stock
NEW YORK(
) --
Prudential Financial
(PRU) - Get Prudential Financial Inc. Report
priced a $1 billion stock offering.
The
said it is selling over 18.3 million shares at a price of $54.50 per share.
The proceeds, which should total about $970 million, will be used to help pay off its acquisitions of two Japanese life insurance units from
American International Group
(PRU) - Get Prudential Financial Inc. Report
.
Citigroup
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,
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Bank of America Merrill Lynch
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,
UBS
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and
Barclays Capital
(BCS) - Get Barclays PLC Report
will serve as joint bookrunning managers for the offering.
--Written by Maria Woehr in New York.
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