Prudential plc Announces Share Repurchases and Issued Share Changes – Key Details for Investors

Summary of Key Points

• Prudential plc has undertaken significant share repurchases in early November 2025.
• Issued share capital has decreased due to share buybacks and cancellations.
• Share repurchases were conducted on the London Stock Exchange at prices above GBP 10.78 per share.
• No sale of treasury shares was reported.
• Moratorium period for new share issues or treasury share sales applies until 6 December 2025.

Details of Share Repurchases and Changes

Prudential plc (“the Company”), a leading equity issuer listed on the Hong Kong Stock Exchange (stock code: 02378), has published its Next Day Disclosure Return detailing recent changes in its issued share capital arising from share repurchase activities.

Issued Share Changes

• Opening balance of ordinary shares (GBP 0.05 each) as of 5 November 2025: 2,560,604,544 shares.
• On 4 November 2025, the Company repurchased and subsequently cancelled 281,533 shares at a volume-weighted average price of GBP 10.6645 per share.
• Closing balance as of 6 November 2025: 2,560,323,011 shares.

Shares Repurchased for Cancellation (Not Yet Cancelled)

• On 5 November 2025, 280,048 shares were repurchased for cancellation at an average price of GBP 10.8083 per share.
• On 6 November 2025, a further 254,334 shares were repurchased for cancellation at an average price of GBP 10.8389 per share.
• These shares are yet to be cancelled and remain part of the issued shares until settlement is complete.

Repurchase Report – Details and Implications

• On 6 November 2025, 254,334 ordinary shares were repurchased via the London Stock Exchange, at prices ranging from GBP 10.78 to GBP 10.91, with an aggregate price paid of GBP 2,756,702.29.
• Total shares repurchased under the current repurchase mandate: 46,646,248 shares, representing 1.790932% of the issued share capital as of the repurchase mandate resolution date (14 May 2025).
• Moratorium period: Prudential plc is restricted from issuing new shares or selling/transferring treasury shares until 6 December 2025, unless prior approval from the Exchange is obtained.

Shareholder Considerations and Potential Price Sensitivity

• Reduction in Outstanding Shares: The ongoing share repurchase and cancellation programme reduces the overall number of shares in issue, potentially increasing the value of remaining shares and improving key per-share financial metrics.
• Buyback Prices Above Market: The buybacks were executed at prices exceeding GBP 10.78 per share, which may signal management’s confidence in the intrinsic value of the Company’s shares and could support the share price.
• Moratorium Period: The restriction on new share issuance and treasury share sales may limit short-term dilution risk, which can be positively viewed by investors.
• No Treasury Share Sales: No sale of treasury shares has occurred, indicating the Company is focused on reducing share count rather than generating cash from treasury assets.

Additional Information

• The share repurchase mandate was approved on 14 May 2025, authorizing the buyback of up to 262,668,701 shares.
• All reported buybacks were conducted in accordance with domestic rules of the London Stock Exchange.

Investor Outlook

Prudential plc’s series of share buybacks and cancellations signal a shareholder-friendly capital management approach. The reduction in share count, especially when executed at prices above recent trading levels, could be indicative of management’s confidence and may have a supportive effect on the share price. The buybacks also impact per-share financial metrics positively, which is often viewed favourably by investors. The moratorium on new share issuance reduces dilution risk in the near term.

Investors should monitor subsequent announcements regarding further buybacks or cancellations, and any changes to the moratorium period or the repurchase mandate. The absence of treasury share sales and the scale of buybacks are noteworthy developments.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult with a financial advisor before making any investment decisions. The information is based on publicly disclosed documents as of November 2025 and may be subject to change.

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