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 July, 2025
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 PLC
Commencement of Third Tranche of share buyback programme for US$
500 million
Prudential plc (the "Company"; HKEX: 2378; LSE: PRU) announces that it will
commence the third and final tranche ("Third
Tranche") of its US$ 2 billion
share buyback programme ("Programme") for US$ 500 million. This follows the
successful completion of the first tranche of the Programme on 15
November 2024 for US$ 700 million and the second tranche on 26 June
2025 for US$ 800 million.
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 Third Tranche and the Programme to be in the
best interests of the Company and of its shareholders.
The Programme is in addition to other share buybacks that may be
undertaken in the future in order to offset the actual or expected
dilution from the vesting of awards under employee and agent share
schemes and the issuance of ordinary shares under the scrip
dividend alternative announced on 20 March 2025 in respect of the
2024 second interim dividend and any scrip dividend alternative for
future dividends (if offered).
Detailed terms of the Third Tranche
The Company has entered into an arrangement with Merrill Lynch
International ("MLI") (acting as riskless principal) to conduct the
buyback in respect of the Third Tranche on its behalf and to make
trading decisions in respect of the Third Tranche independently of
the Company.
The arrangement with MLI enables the purchase of ordinary shares in
the issued share capital of the Company ("Ordinary
Shares") for a period from 1
July 2025, and will complete no later than 24 December 2025. The
aggregate maximum pecuniary amount allocated to the Third Tranche
is US$ 500 million (exclusive of associated fees, expenses and
stamp duty) (equivalent to GBP 365 million and HKD 3,925 million,
in each case based on the closing exchange rate between US$ and GBP
and US$ and HKD as of 30 June 2025 GMT) representing an amount
equal to the aggregate value of approximately 1.54% of the
Company's issued share capital at the closing share price on 30
June 2025.
MLI may effect purchases of Ordinary Shares under the Third Tranche
on the London Stock Exchange and/or other trading
venues1 for
subsequent purchase by the Company. Purchases by the Company will
be treated as being made on the London Stock Exchange. The Company
intends that any Ordinary Shares purchased will be
cancelled.
The Third Tranche will be conducted in accordance with the
authority granted by shareholders at the Company's 2025 Annual
General Meeting. The maximum number of Ordinary Shares which may be
purchased by the Company under the Third Tranche is 150,000,000.
The Third Tranche 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
Third Tranche will be implemented in full or that any Ordinary
Shares will be purchased by the Company.
Update on capital management
The Third Tranche announced today constitutes the final tranche in
respect of the Programme and will complete the US$ 2 billion return
of capital to our shareholders. As previously announced, the
Company intends to provide a further update on its capital
management plan in August 2025 when it publishes its half year
results for the six months ended 30 June 2025.
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
Additional information
Contact
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Media
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Investors/analysts
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Simon
Kutner
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+44
(0)7581 023260
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Patrick
Bowes
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+852
2918 5468
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Sonia
Tsang
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+852
5580 7525
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William
Elderkin
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+44
(0)20 3977 9215
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Ming
Hau
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+44
(0) 20 3977 9293
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Bosco
Cheung
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+825
2918 5499
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Tianjiao
Yu
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+852
2918 5487
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About Prudential plc
Prudential plc provides life and health insurance and asset
management in 24 markets across Asia 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 (2378) and the
London Stock Exchange (PRU). It also has a secondary listing on the
Singapore Stock Exchange (K6S) and a listing on the New York Stock
Exchange (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.
https://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: 01 July
2025
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PRUDENTIAL
PUBLIC LIMITED COMPANY
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By: /s/ Sylvia Edward
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Sylvia
Edward
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Deputy
Group Secretary
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