By Nathan Allen

AXA SA (CS.FR) said Monday that it raised $4.02 billion from the initial public offering of its U.S. subsidiary AXA Equitable Holdings Inc. (EQH).

The French insurer said it sold 24.5% of AXA Equitable Holdings's share capital at $20 a share for a total of $2.75 billion.

AXA also said it issued $750 million of mandatory exchangeable bonds, which will mature in 2021, and raised $500 million in additional proceeds.

AXA said it considers the financing of its planned $15.3 billion acquisition of insurer XL Group Ltd. (XL) is now secured, as it is not dependent on the issuance of any additional debt.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

May 14, 2018 13:20 ET (17:20 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
Grafico Azioni Axa (EU:CS)
Storico
Da Apr 2024 a Mag 2024 Clicca qui per i Grafici di Axa
Grafico Azioni Axa (EU:CS)
Storico
Da Mag 2023 a Mag 2024 Clicca qui per i Grafici di Axa