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Bond Market News
Prudential Explores Options Including Eastspring Stake Sale
December 11, 2024
Prudential Plc is exploring options including potentially selling a minority 30% stake of its asset management business, Eastspring Investments. Estimates suggest that the potential stake sale could value Eastspring at $3bn. Prudential is said to have begun reaching out to prospective buyers, including other investment firms. It is considering using proceeds from the sale to boost returns or reinvest in markets with high growth potential, such as mainland China and Southeast Asia. As of September, Eastspring managed $271bn in assets across 11 Asian markets.
Prudential’s dollar bonds are trading stable with its 5.9% 2036s at 104.4, yielding 5.37%.
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