SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the
month of January, 2026
PRUDENTIAL PUBLIC LIMITED COMPANY
(Translation
of registrant's name into English)
13/F, One International Finance Centre,
1 Harbour View Street, Central,
Hong Kong, China
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports
under
cover Form 20-F or Form 40-F.
Form
20-F X
Form 40-F
Indicate
by check mark whether the registrant by furnishing the
information
contained
in this Form is also thereby furnishing the information to
the
Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes
No X
If
"Yes" is marked, indicate below the file number assigned to the
registrant
in
connection with Rule 12g3-2(b): 82-
Prudential announces launch of USD 1.2 billion share buyback
programme
Prudential plc (the "Company") announces that it will commence a
buyback programme of its ordinary shares up to a maximum aggregate
amount of USD 1.2 billion (the "Programme"). Given the size of the
Programme, it is intended that it will be completed by no later
than 18 December 2026.
The purpose of the Programme is to reduce the issued share capital
of the Company in order to return capital to shareholders. The
Directors consider the Programme to be in the best interests of the
Company and of its shareholders generally.
Anil Wadhwani, Chief Executive Officer, said: "I am pleased with the progress we are
making in executing our strategy. The significant growth
opportunities ahead of us have not changed and we remain firmly
focused on creating long-term shareholder value through high
quality, sustainable growth, and consistent delivery of shareholder
returns."
Our capital management programme was communicated on 27 August and
is expected to return to shareholders over USD 5 billion over the
period 2024-2027, before the intended return to shareholders of the
net proceeds from the initial public offering of ICICI Prudential
Asset Management Company Limited ("IPAMC IPO").
We announced on 23 December 2025 that we had completed the final
tranche of a USD 2 billion buyback programme in 2025 and on 19
December 2025 that we had completed the IPAMC IPO.
Accordingly, we will now commence a buyback of USD 1.2 billion to
be executed in 2026, comprising USD 500 million of recurring
capital returns and USD 700 million of net proceeds from the IPAMC
IPO. The balance of the net proceeds from the IPAMC IPO will be
returned to shareholders during 2027.
The pace, timing of and form of the proposed returns of capital
will be subject to market conditions and execution considerations,
including discretion given to a third party for execution during
closed periods.
Terms of the Programme
The Company has entered into an arrangement with J.P. Morgan
Securities plc ("JPM") (acting as riskless principal) to conduct
the buyback in respect of the Programme on its behalf and to make
trading decisions in respect of the Programme independently of the
Company (the "Agreement").
The arrangement with JPM enables the purchase of ordinary shares in
the issued share capital of the Company ("Ordinary Shares") for a
period from 6 January 2026, and will complete no later than 18
December 2026. The aggregate maximum pecuniary amount allocated to
the Programme is USD 1.2 billion (exclusive of associated fees,
expenses and stamp duty) (equivalent to GBP 889 million and HKD
9,342 million, in each case based on the closing exchange rate
between USD and GBP and USD and HKD as of 5 January 2026 GMT)
representing an amount equal to the aggregate value of
approximately 3% of the Company's issued share capital at the
closing share price on 5 January 2026.
JPM may effect purchases of Ordinary Shares under the Programme on
the London Stock Exchange and/or other trading
venues1 for
subsequent purchase by the Company. Purchases by the Company will
be treated as on-exchange transactions subject to the Listing Rules
of the London Stock Exchange and as on-market purchases for the
purpose of the Hong Kong Code on Share Buy-Backs. The Company
intends that any Ordinary Shares purchased will be
cancelled.
The Programme will be conducted in accordance with the authority to
purchase Ordinary Shares granted by shareholders at the Company's
2025 Annual General Meeting and any authority granted by
shareholders at the Company's 2026 Annual General
Meeting. The
maximum number of Ordinary Shares which may be purchased by the
Company under the Programme is 204 million (being the number of
Ordinary Shares remaining under the authority
granted by shareholders at the Company's 2025 Annual General
Meeting) taken together with such number of Ordinary Shares
under any
authority granted by shareholders at the Company's 2026 Annual
General Meeting.
The Programme will be conducted within the parameters prescribed by
the Market Abuse Regulation 596/2014/EU (as in force in the UK and
as amended by the Market Abuse (Amendment) (EU Exit) Regulations
2019), the Commission Delegated Regulation 2016/1052/EU (as in
force in the UK and as amended by the FCA's Technical Standards
(Market Abuse Regulation) (EU Exit) Instrument 2019) and in
accordance with Chapter 9 of the UK Listing Rules, the Hong Kong
Listing Rules and the Hong Kong Code on Share Buy-backs. No
purchase of Ordinary Shares will be conducted on the Hong Kong
Stock Exchange. No purchases will be made in respect of the
Company's American Depositary Receipts.
The Company will make further announcements in due course following
any purchase of Ordinary Shares. There is no guarantee that the
Programme will be implemented in full or that any Ordinary Shares
will be purchased by the Company.
The Company intends to continue its existing practice of conducting
share buybacks in order to offset the actual or expected dilutive
effects from
the vesting of awards under employee and agent share schemes and
the issuance of Ordinary Shares under any scrip dividend
alternative for future dividends (if offered) (the "Neutralisation
Buyback"). Such repurchases would be in addition to the Programme
announced today. Under the terms of the Agreement, JPM has agreed
to conduct the Neutralisation Buyback (acting
as riskless principal), subject to the determination by the Company
of the final terms of the Neutralisation Buyback. The Company will
release a further announcement in respect of the Neutralisation
Buyback once those terms have been determined.
1 Specifically
Aquis Exchange Europe, Cboe Europe Limited through the BXE and CXE
order books, and any multilateral trading facility operated by
Turquoise Global Holdings Limited, each being a trading venue (as
defined in the Market Abuse Regulation) in the United Kingdom where
the Ordinary Shares are admitted to trading or
traded.
Contact
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Media
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Investors/analysts
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Simon
Kutner
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+44
7581 023260
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UK
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Patrick
Bowes
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+852
2918 5468
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HK
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Sonia
Tsang
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+852
5580 7525
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HK
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William
Elderkin
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+44
2039 779215
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UK
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Ming
Hau
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+44
2039 779293
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UK
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Bosco
Cheung
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+852
2918 5499
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HK
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Tianjiao
Yu
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+852 2918 5487
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HK
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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 (HKEX: 2378) and the
London Stock Exchange (LSE: PRU). It also has a secondary listing
on the Singapore Stock Exchange (SGX: K6S) and a listing on the New
York Stock Exchange (NYSE: PUK) 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/
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
Date:
06 January 2026
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PRUDENTIAL
PUBLIC LIMITED COMPANY
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By: /s/ Sylvia Edwards
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Sylvia
Edwards
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Deputy
Group Secretary
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