AXA: sells remaining stake in EQH

(CercleFinance.com) - AXA has announced the sale, as selling stockholder, of 144 million AXA Equitable Holdings (EQH) common stock to Goldman Sachs, as the sole underwriter as part of a secondary offering of these shares.


As part of this offering, which is set to close on 13 November, EQH has agreed to purchase from the guarantor bank 24 million out of the 144 million shares at a price equal to the price paid by the underwriter to AXA.

At the closing of the bid, AXA's residual stake in EQH will subsequently be recognised as a "financial investments" at fair value in AXA's consolidated balance sheet for the year ended 2019.


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