May
09

Axa Equitable Raises $2.75 Billion in Biggest 2018 U.S. IPO

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  • Insurer’s shares price at $20, short of $24-$27 range
  •  Offering still tops Pagseguro Digital, iQiyi listings

Axa Equitable Holdings Inc., encompassing the American operations for French insurance giant Axa SA, fell almost $1 billion short of its targeted share sale in what was still the biggest U.S. initial public offering of the year.

Axa Equitable Holdings raised $2.75 billion, selling 137.25 million shares for $20 each. That was short of its targeted range of $24 to $27 apiece. The proceeds from the listing will help its French parent company fund its biggest-ever acquisition: a $15.3 billion takeover of XL Group Ltd.

Axa Equitable Raises $2.75 Billion in Biggest 2018 U.S. IPO

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Categories : Private Equity

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