CITIC-Prudential Life: share capital increase

CITIC-Prudential Life (CPL), a company equally owned by the Prudential group and the Chinese bank CITIC, has initiated procedures to increase its share capital by 2.5 billion CNY (351 million USD). This brings the latter from 2.36 billion CNY (331 million USD) to 4.86 billion CNY (682 million USD).

Under the terms of the transaction, each of the company's shareholders will inject 1.25 billion CNY (175.5 million USD) in cash into the joint venture's capital.

The transaction is still pending approval from the relevant authorities.