ICICI Pru AMC sees ‘infinite market’ for mutual funds, ramps up alternates business

PRUDENTIAL PLC

Transaction in own shares

Prudential plc ("Prudential" or the "Company") announces it has purchased the following number of its ordinary shares of 5 pence each from Merrill Lynch International ("MLI") in accordance with the authority granted by shareholders at the Company's 2025 Annual General Meeting under the arrangement entered into with MLI announced on 1 July 2025.

The Company intends to cancel the repurchased shares. Following this transaction, the Company will have 2,552,785,049 shares in issue and the total number of voting rights in the Company will be 2,552,785,049. This figure may be used by shareholders as the denominator when determining whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The shares were repurchased from MLI as an on-exchange transaction subject to the Listing Rules of the London Stock Exchange and as an on-market purchase for the purposes of the Hong Kong Code on Share Buy-Backs.

Schedule of Purchases

Aggregated information

Disaggregated information

In accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 (as it forms part of domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018), a full breakdown of the individual trades made by MLI on behalf of the Company is available via the link below.

http://www.rns-pdf.londonstockexchange.com/rns/2824L_1-2025-12-11.pdf

This announcement will also be available on Prudential's website at: Stock Exchange Announcements | Prudential plc

Additional information

About Prudential plc

Prudential provides life and health insurance and asset management in Greater China, ASEAN, India and Africa. Prudential's mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong and the London Stock Exchange . It also has a secondary listing on the Singapore Stock Exchange and a listing on the New York Stock Exchange in the form of American Depositary Receipts. It is a constituent of the Hang Seng Composite Index and is also included for trading in the Shenzhen-Hong Kong Stock Connect programme and the Shanghai-Hong Kong Stock Connect programme.

Prudential is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom.

www.prudentialplc.com

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The blue chip has agreed to sell a 4.5% stake in the ICICI Prudential Asset Management Company (IPAMC) for 49bn rupees (£410m) to a group of investors, including the Abu Dhabi Investment Authority and Indian insurer SBI Life.

According to Reuters, joint venture partner ICICI Bank - Indian’s second-largest private lender - also bought shares worth 21.4bn rupees.

The sale comes ahead of a planned initial public offering of the joint venture.

Prudential, which is heavily focused on Asia, first signalled plans to sell a portion of its 45% stake in the joint venture in July.

It is expected to sell up to 9.91% of its equity in IPAMC in the IPO.

Shares in Prudential shot up on Monday, after IPAMC filed an early stage ‘red herring’ prospectus in Delhi concerning the IPO.

Analysts welcomed the move, noting that proceeds would likely contribute to future share buybacks.

The likely $1.2bn IPO is expected to open on Friday.

As at 1330 GMT on Thursday, the London-listed insurer was largely unchanged at 1,081p.

PRUDENTIAL PLC

Transaction in own shares

Prudential plc ("Prudential" or the "Company") announces it has purchased the following number of its ordinary shares of 5 pence each from Merrill Lynch International ("MLI") in accordance with the authority granted by shareholders at the Company's 2025 Annual General Meeting under the arrangement entered into with MLI announced on 1 July 2025.

The Company intends to cancel the repurchased shares.

In addition, the Company has today issued 550 ordinary shares of 5 pence each in connection with its share schemes (the "Allotment").

Following the Buyback and the Allotment, the Company will have 2,553,059,551 shares in issue and the total number of voting rights in the Company will be 2,553,059,551. This figure may be used by shareholders as the denominator when determining whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The shares were repurchased from MLI as an on-exchange transaction subject to the Listing Rules of the London Stock Exchange and as an on-market purchase for the purposes of the Hong Kong Code on Share Buy-Backs.

Schedule of Purchases

Aggregated information

Disaggregated information

In accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 (as it forms part of domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018), a full breakdown of the individual trades made by MLI on behalf of the Company is available via the link below.

http://www.rns-pdf.londonstockexchange.com/rns/0871L_1-2025-12-10.pdf

This announcement will also be available on Prudential's website at: Stock Exchange Announcements | Prudential plc

Additional information

About Prudential plc

Prudential provides life and health insurance and asset management in Greater China, ASEAN, India and Africa. Prudential's mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong and the London Stock Exchange . It also has a secondary listing on the Singapore Stock Exchange and a listing on the New York Stock Exchange in the form of American Depositary Receipts. It is a constituent of the Hang Seng Composite Index and is also included for trading in the Shenzhen-Hong Kong Stock Connect programme and the Shanghai-Hong Kong Stock Connect programme.

Prudential is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom.

www.prudentialplc.com

Contact

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.  END  POSEAXAEFDXSFFA

PRUDENTIAL PLC

Transaction in own shares

Prudential plc ("Prudential" or the "Company") announces it has purchased the following number of its ordinary shares of 5 pence each from Merrill Lynch International ("MLI") in accordance with the authority granted by shareholders at the Company's 2025 Annual General Meeting under the arrangement entered into with MLI announced on 1 July 2025.

The Company intends to cancel the repurchased shares. Following this transaction, the Company will have 2,553,333,541 shares in issue and the total number of voting rights in the Company will be 2,553,333,541. This figure may be used by shareholders as the denominator when determining whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The shares were repurchased from MLI as an on-exchange transaction subject to the Listing Rules of the London Stock Exchange and as an on-market purchase for the purposes of the Hong Kong Code on Share Buy-Backs.

Schedule of Purchases

Aggregated information

Disaggregated information

In accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 (as it forms part of domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018), a full breakdown of the individual trades made by MLI on behalf of the Company is available via the link below.

http://www.rns-pdf.londonstockexchange.com/rns/9055K_1-2025-12-9.pdf

This announcement will also be available on Prudential's website at: Stock Exchange Announcements | Prudential plc

Additional information

About Prudential plc

Prudential provides life and health insurance and asset management in Greater China, ASEAN, India and Africa. Prudential's mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong and the London Stock Exchange . It also has a secondary listing on the Singapore Stock Exchange and a listing on the New York Stock Exchange in the form of American Depositary Receipts. It is a constituent of the Hang Seng Composite Index and is also included for trading in the Shenzhen-Hong Kong Stock Connect programme and the Shanghai-Hong Kong Stock Connect programme.

Prudential is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom.

www.prudentialplc.com

Contact

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.  END  POSEAXANELPSFFA

PRUDENTIAL PLC

Transaction in own shares

Prudential plc ("Prudential" or the "Company") announces it has purchased the following number of its ordinary shares of 5 pence each from Merrill Lynch International ("MLI") in accordance with the authority granted by shareholders at the Company's 2025 Annual General Meeting under the arrangement entered into with MLI announced on 1 July 2025.

The Company intends to cancel the repurchased shares. Following this transaction, the Company will have 2,553,601,734 shares in issue and the total number of voting rights in the Company will be 2,553,601,734. This figure may be used by shareholders as the denominator when determining whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The shares were repurchased from MLI as an on-exchange transaction subject to the Listing Rules of the London Stock Exchange and as an on-market purchase for the purposes of the Hong Kong Code on Share Buy-Backs.

Schedule of Purchases

Aggregated information

Disaggregated information

In accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 (as it forms part of domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018), a full breakdown of the individual trades made by MLI on behalf of the Company is available via the link below.

http://www.rns-pdf.londonstockexchange.com/rns/7225K_1-2025-12-8.pdf

This announcement will also be available on Prudential's website at: Stock Exchange Announcements | Prudential plc

Additional information

About Prudential plc

Prudential provides life and health insurance and asset management in Greater China, ASEAN, India and Africa. Prudential's mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong and the London Stock Exchange . It also has a secondary listing on the Singapore Stock Exchange and a listing on the New York Stock Exchange in the form of American Depositary Receipts. It is a constituent of the Hang Seng Composite Index and is also included for trading in the Shenzhen-Hong Kong Stock Connect programme and the Shanghai-Hong Kong Stock Connect programme.

Prudential is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom.

www.prudentialplc.com

Contact

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.  END  POSEAXAPELDSFFA

The blue chip said over the weekend that ICICI Prudential Asset Management Company Limited (IPAMC) had filed an early stage ‘red herring’ prospectus in Delhi concerning a possible IPO.

Under the proposed terms, Prudential would sell up to 9.91% of its equity in IPAMC.

It also confirmed it was considering a possible 2% sale to its joint venture partner, ICICI Bank, noting: "We are considering an additional pre-IPO placement to select institutional investors before the completion of the IPO."

As at noon, GMT, the stock had risen 3% at 1,107.5p, making it the biggest gainer in the FTSE 100.

Prudential, which is heavily focused on Asia, first signalled plans to sell a portion of its 45% stake in July.

Panmure Liberum estimated selling down the holding could raise around $600m, with the proceeds contributing to future share buybacks.

Abid Hussain, analyst, said: "If the market will not assign fair value to the stock, it pays to list/sell/divest component parts of the business that are trading on materially higher multiples that the group.

"Given management is guiding to over 10% growth in new business profit, earnings and cash generation and dividends for the 2025 full year, and committing to its 2027 growth targets, the shares should be trading materially higher in our view."

Prudential is a corporate broking client of Panmure.