AXA Raises $2.75 billion in year’s biggest IPO
Saturday, 05 12 2018, Category: Insurance and Reinsurance, Country: United States
U.S. initial public offerings have the seismic changes in the insurance industry to thank for 2018’s biggest share sale.
Axa Equitable Holdings Inc. sold 137.25 million shares at $20 each on Wednesday to raise $2.75 billion. That’s well short of the $3.7 billion it was trying to raise at the high end of the $24 to $27 share price range marketed to investors. The shares are set to begin trading Thursday on the New York Stock Exchange under the symbol EQH.
Source: Insurance Journal