Pru applies for Hong Kong share listing

Prudential has applied to have its shares listed on the Hong Kong Stock Exchange as part of its plan to buy AIG's Asian assets.

The insurer says it hopes to have shares listed in Hong Kong prior to launching its $20bn rights issue. When Pru announced the deal last week, it said it intended to raise some funding from Asian investors, and a Hong Kong listing is likely to increase the attraction for those in the Far East. The listing will be introduced as a dual-primary listing alongside ordinary shares in London, with no new shares offered until the rights issue.