AXA (EPA:CS) - AXA S.A. announces the pricing of the Initial Public Offering of AXA Equitable Holdings, Inc.

Transparency directive : regulatory news

10/05/2018 03:00

Press release

Paris, May 10, 2018

AXA S.A. announces the pricing of the Initial Public Offering of AXA Equitable
Holdings, Inc.

AXA S.A. ("AXA") announces today the pricing of the IPO of 137,250,000 existing
shares of its U.S. subsidiary, AXA Equitable Holdings, Inc. ("AEH"), at a
public offering price of USD 20 per share, corresponding to USD 2,745 million
of proceeds. The offering consists of shares of common stock of AEH to be sold
by AXA, as selling stockholder. The shares sold in the context of the IPO
represent approximately 24.5% of the existing issued and outstanding shares(1)
of AEH. The shares are expected to begin trading today on the New York Stock
Exchange, under the ticker symbol "EQH". The offering is expected to close on
May 14, 2018.

In connection with the offering, AXA has granted the underwriters a 30-day
option to purchase up to an additional 20,587,500 shares of common stock.

Morgan Stanley, J.P. Morgan, Barclays and Citigroup are acting as joint lead
book-running managers and underwriters for the offering. BofA Merrill Lynch,
Credit Suisse, Deutsche Bank Securities, Goldman Sachs & Co. LLC, BNP Paribas,
Societe Generale, ING, Credit Agricole CIB, HSBC, Natixis and RBC Capital
Markets acted as joint book-running managers and underwriters for the offering.
Lazard is acting as financial advisor to AXA in connection with the offering.

A registration statement relating to the proposed IPO has been filed with, and
declared effective by, the U.S. Securities and Exchange Commission. Copies of
the registration statement may be obtained from: Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New
York 10014; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions,
Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, New York
11717 or telephone: 866-803-9204; Barclays, c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, New York 11717, email:
Barclaysprospectus@broadridge.com or telephone: 888-603-5847; and Citigroup,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York
11717 or telephone: 800-831-9146.

This press release does not constitute an offer to sell or the solicitation of
an offer to buy securities, and shall not constitute an offer, solicitation or
sale in any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
that jurisdiction.

(1) Out of 561,000,000 total common shares

ABOUT THE AXA GROUP

The AXA Group is a worldwide leader in insurance and asset management, with
160,000 employees serving 105 million clients in 64 countries. In 2017, IFRS
revenues amounted to Euro 98.5 billion and underlying earnings to Euro 6.0
billion. AXA had Euro 1,439 billion in assets under management as of December
31, 2017.

The AXA ordinary share is listed on compartment A of Euronext Paris under the
ticker symbol CS (ISN FR 0000120628 - Bloomberg: CS FP - Reuters: AXAF.PA).
AXA's American Depository Share is also quoted on the OTC QX platform under the
ticker symbol AXAHY.

The AXA Group is included in the main international SRI indexes, such as Dow
Jones Sustainability Index (DJSI) and FTSE4GOOD.

It is a founding member of the UN Environment Programme's Finance Initiative
(UNEP FI) Principles for Sustainable Insurance and a signatory of the UN
Principles for Responsible Investment.

This press release and the regulated information made public by AXA pursuant to
article L. 451-1-2 of the French Monetary and Financial Code and articles 222-1
et seq. of the Autorité des marchés financiers' General Regulation are
available on the AXA Group website (axa.com).

THIS PRESS RELEASE IS AVAILABLE ON THE AXA GROUP WEBSITE axa.com

FOR MORE INFORMATION:

Investor Relations:               +33.1.40.75.48.42
Andrew Wallace-Barnett:           +33.1.40.75.46.85
François Boissin:                 +33.1.40.75.39.82
Aayush Poddar:                    +33.1.40.75.59.17
Shantanu Priya:                   +33.1.40.75.58.44
Mathias Schvallinger:             +33.1.40.75.39.20
Alix Sicaud:                      +33.1.40.75.56.66

Individual Shareholder Relations: +33.1.40.75.48.43

Media Relations:                  +33.1.40.75.46.74

Julien Parot:                     +33.1.40.75.59.80
Nicolas Feltrin:                  +33.1.40.75.56.48
Shruti Dhanda:                    +33.1.40.75.72.58

Corporate Responsibility strategy: axa.com/en/about-us/strategy-commitments

SRI ratings: axa.com/en/investor/sri-ratings-ethical-indexes

ABOUT AXA EQUITABLE HOLDINGS

AXA Equitable Holdings, Inc. (NYSE: EQH) is one of the leading financial
services companies in the U.S. and is comprised of two complementary and
well-established principal franchises, AXA Equitable Life Insurance Company and
AllianceBernstein. We have been helping clients prepare for their financial
future since 1859 and have a combined total of more than 12,200 employees and
financial professionals, 5.4 million customer relationships and USD 670 billion
of assets under management (as of 12/31/17).

FOR MORE INFORMATION:

Investor Relations: Kevin Molloy: +1.212.314.2893

Media Relations: Gina Tyler: +1.212.314.2010

IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING
FORWARD-LOOKING STATEMENTS

Certain statements contained herein may be forward-looking statements
including, but not limited to, statements that are predictions of or indicate
future events, trends, plans, expectations or objectives. Undue reliance should
not be placed on such statements because, by their nature, they are subject to
known and unknown risks and uncertainties and can be affected by other factors
that could cause AXA's actual results to differ materially from those expressed
or implied in the forward-looking statements. Please refer to Part 4 - "Risk
factors and risk management" of AXA's Registration Document for the year ended
December 31, 2017, for a description of certain important factors, risks and
uncertainties that may affect AXA's business and/or results of operations. AXA
undertakes no obligation to publicly update or revise any of these
forward-looking statements, whether to reflect new information, future events
or circumstances or otherwise, except as part of applicable regulatory or legal
obligations.

This press release does not constitute an offer to the public in France, nor a
prospectus within the meaning of Directive 2003/71/EC of the European
Parliament and the Council of 4 November 2003, as amended, in particular by
Directive 2010/73/EU to the extent such Directive has been transposed in the
relevant member State of the European Economic Area (together, the "Prospectus
Directive"). With respect to each Member State of the European Economic Area
which has implemented the Prospectus Directive (the "Member State"), no action
has been undertaken or will be undertaken to make an offer to the public of
securities requiring a publication of a prospectus in any Member State. As used
in this paragraph, the expression "offer to the public" in relation to any
securities in a given Member State means any communication to persons in any
form and by any means, presenting sufficient information on the terms of the
offer and the securities to be offered, so as to enable an investor to decide
to purchase or subscribe for these securities, as this definition be varied in
that Member State by any measure implementing the Prospectus Directive in that
Member State, and includes any relevant implementing measure in each Member
State. These selling restrictions with respect to Member States apply in
addition to any other selling restrictions which may be applicable in the
Member States who have implemented the Prospectus Directive.

AXA's latest news

12/04/2024 18:20

AXA (EPA:CS) - AXA S.A. announces the pricing of the Initial Public Offering of AXA Equitable Holdings, Inc.

Transparency directive : regulatory news

AXA's latest news

Other stories