Prudential announced yesterdaythat it is evaluating a potential listing of ICICI Prudential Asset Management involving the partial divestment of its shares, subject to market conditions, requisite approvals and other considerations. It is intended that following the completion of such a divestment, the net proceeds would be returned to shareholders.
"We will provide a further update at an appropriate time," said Prudential, in its official statement on the matter yesterday morning. "India is a strategically important market for Prudential with compelling growth prospects. We will continue to explore opportunities to grow our businesses in the market."