Prudential Announces Submission of Draft Prospectus for ICICI Prudential Asset Management Company in India

Prudential has announced that ICICI Prudential Asset Management Company has submitted a draft red herring prospectus to the Securities and Exchange Board of India, the Bombay Stock Exchange, and the National Stock Exchange of India to advance its initial public offering. This IPO includes the sale of up to 10% of ICICI Prudential Asset Management Company's equity by Prudential Corporation Holdings Limited, a subsidiary of Prudential, subject to market conditions and necessary approvals.