• Net proceeds* of USD 1.8 billion
• Up to USD 0.2 billion of potential additional proceeds, if the underwriters decide to exercise their over-allotment option by December 15, 2018
• AXA’s ownership of EQH’s common stock has decreased from 72.2%* to 59.3%*
AXA S.A. (“AXA”) announces today that it has successfully completed a secondary public offering of 60,000,000 shares (the “Offering”), at a public offering price of USD 20.25 per share, of its U.S. subsidiary, AXA Equitable Holdings, Inc. (“EQH”) and the sale to EQH of 30,000,000 shares (the “Share Buyback”)* at the per share price paid by the underwriters in the public offering.
Net proceeds* corresponding to the sale of 90,000,000 EQH shares from the Offering and the Share Buyback, amounted to USD 1.8 billion or Euro 1.6 billion*. Following this sale, AXA’s ownership in EQH has decreased from 72.2%* to 59.3%*. In addition, AXA has granted the underwriters a 30-day option to purchase up to an additional 9,000,000 EQH shares.
AXA continues its transformation journey with the successful new placement of EQH shares, representing another step in shifting AXA’s business profile towards our strategic preferred segments and additional financial flexibility for the Group.
AXA Equitable Holdings has been delivering strong operating performance since the IPO 6 months ago, and I wish them continued success as a leading US-listed financial services company.