Prudential plc Announces Recent Share Repurchases and Changes in Issued Share Capital

Prudential plc (Stock Code: 02378), a major listed equity issuer on the Hong Kong Stock Exchange, has released its latest Next Day Disclosure Return, providing investors and the market with a comprehensive update on changes to its issued ordinary share capital, ongoing share repurchase activities, and their implications for shareholders.

Key Highlights of the Report

• Share Repurchase and Cancellation:
  • On 31 October 2025, Prudential repurchased 301,668 ordinary shares on the London Stock Exchange, with cancellation completed on 4 November 2025 at an average price of GBP 10.5016 per share.
  • As a result, the total number of issued shares (excluding treasury shares) has been reduced from 2,561,186,475 to 2,560,884,807 as of 4 November 2025.
• Further Shares Repurchased but Pending Cancellation:
  • On 3 November 2025, 280,263 shares were repurchased at an average price of GBP 10.7554 per share.
  • On 4 November 2025, another 281,533 shares were repurchased at an average price of GBP 10.6645 per share.
  • These shares are awaiting cancellation and remain counted in the issued share capital for now.
• Total Shares Repurchased Under Current Mandate:
  • Since the approval of the repurchase mandate on 14 May 2025, Prudential has repurchased 46,111,866 shares, representing 1.77% of its issued share capital as at the date of mandate approval.
  • The company is authorised to repurchase up to 262,668,701 shares under this mandate.
• Moratorium Period:
  • Following these repurchases, Prudential is subject to a moratorium on new share issues or sales/transfers of treasury shares until 4 December 2025 (30 days from the last repurchase).
• Repurchase Mechanism and Compliance:
  • All repurchases were conducted on the London Stock Exchange in compliance with domestic rules.
  • No shares have been repurchased and held as treasury shares; all have been or will be cancelled.

Potential Price-Sensitive Information for Shareholders

• Reduction of Share Capital:

  The ongoing cancellation of repurchased shares reduces the company’s total share capital, which generally enhances earnings per share (EPS) and may be supportive of the share price if maintained over time. This can be seen as a positive capital management action, reflecting management’s confidence in the company’s underlying value and cash generation.

• Moratorium Impact:

  The mandatory 30-day moratorium on issuing new shares or selling treasury shares could limit Prudential’s flexibility in raising new capital or conducting corporate actions during this period. This is standard regulatory practice but may be of interest to investors monitoring potential capital raises or dilution.

• Ongoing Buyback Activity:

  The continuation of the share buyback program, with a significant volume of shares repurchased since May 2025, signals ongoing management commitment to returning capital to shareholders and optimizing the capital structure.

• Price Sensitivity:

  Share buybacks at prices around GBP 10.50 to GBP 10.75 may indicate management’s view on valuation and could provide a measure of downside support to the share price in the near term.

Important Details for Investors

• Issued Shares (Post-Repurchase): 2,560,884,807 ordinary shares of GBP 0.05 each.
• No Treasury Shares Held: All repurchased shares are cancelled, not held as treasury shares.
• Aggregate Repurchase Amount for 4 November 2025: GBP 3,002,410.18 for 281,533 shares.
• Shareholders’ Mandate: Repurchases conducted under authority granted at the AGM on 14 May 2025.
• Reporting Officer: Florence Ng Wai Yin, Deputy Group Secretary.

Conclusion

Prudential plc’s ongoing share buyback and cancellation program is a key development that is likely to be price sensitive. The reduction in share capital, continued use of buybacks, and management’s execution of capital returns may positively influence the share price and investor sentiment. Shareholders and potential investors should monitor further announcements, especially regarding the completion and cancellation of the most recently repurchased shares, as well as any new capital actions following the expiry of the moratorium.

Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Investors should conduct their own research or consult with a professional advisor before making any investment decisions. The information is based on the latest publicly available disclosures from Prudential plc as of 5 November 2025.

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