|Bid||20.00 x 1800|
|Ask||24.30 x 800|
|Day's Range||21.68 - 21.97|
|52 Week Range||19.50 - 22.00|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
NEW YORK/PARIS (Reuters) - AXA's (AXAF.PA) listing of its U.S. division raised less than targeted, but the French group said the proceeds were enough to ensure it can pursue a $15.3 billion (11.3 billion pounds) acquisition of XL Group. Europe's second-biggest insurer by market capitalisation behind Allianz (ALVG.DE) said it had raised $2.75 billion on Wednesday through the initial public offering (IPO) of AXA Equitable Holdings Inc (EQH.N) at $20 per share, below a target range of $24-$27, as well as a $750 million convertible bond. "The transaction is perfectly in line with the financing plan of the acquisition of the XL Group," AXA spokesman Emmanuel Touzeau said on Twitter on Thursday.
AXA Equitable Holdings, Inc. announced today the pricing of its initial public offering of 137,250,000 shares of its common stock at a public offering price of $20 per share.
Despite coming in below target, it is still the biggest U.S. IPO so far in 2018 based on proceeds raised, according to Thomson Reuters data. AXA, which is Europe's second-biggest insurer by market capitalisation behind Allianz (ALVG.DE), has said that the proceeds will help finance its earlier acquisition of insurer XL Group (XL.N).