Prudential (GB:PRU) has released an update.
Prudential plc has initiated the first portion of a US$ 2 billion share buyback program, starting with a US$ 700 million tranche aimed at reducing issued share capital and returning capital to shareholders. The plan, considered beneficial for both the company and its shareholders, involves repurchasing shares through Goldman Sachs independently of Prudential, with the intention to cancel the acquired shares. This buyback is part of a larger strategy to offset dilution from employee share schemes and improve liquidity for shares on the Hong Kong line.
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