Prudential Raises $2.4 Billion From Hong Kong Offering (Correct)

Prudential Plc has raised HK$18.8 billion ($2.4 billion) from its Hong Kong share offering after pricing the stock at a slight discount to its last close in London.

The London-based insurer sold 130.8 million shares at HK$143.80 apiece, it said in a statement on Saturday. Prudential plans to use proceeds from the offering to redeem existing high coupon debt, with the balance to contribute to investments in Asia and Africa, where Group Chief Executive Mike Wells has said the company will be “entirely focused on long-term structural growth opportunities.”

The price represents a discount of 2.9% on the stock’s last ...