Prudential has delayed the issue of details of its $21 bn cash call, because it has failed to reach agreement with the FSA on its capital position.
In a statement the life company said it is in continuing discussion with the regulator regarding the transaction, in particular in relation to the capital position of the Enlarged Group under the Insurance Groups Directive. It states: "As a result, Prudential has decided to delay the pricing and launch of the Rights Issue whilst it seeks to bring its discussions with the FSA to a conclusion." Prudential now expects to price and launch the Rights Issue, and publish the Rights Issue Prospectus and New Prudential Prospectus, once discussions with the FSA are concluded. However the lif...
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