AXA outlines SharePlan 2019 results

AXA outlines SharePlan 2019 results | Insurance Business

AXA outlines SharePlan 2019 results

More than €375 million (around $415.2 million) – that’s how much AXA Group recorded in aggregate proceeds from its 2019 employee share offering.

SharePlan 2019, a capital increase reserved to the insurer’s global workforce, saw approximately 26,000 employees in 40 countries subscribe at a price of €18.30 for the classic plan and €21.73 for the leveraged plan. An estimated 18 million newly issued shares were snapped up.

“This offering increases the total number of outstanding AXA shares which amounts to 2,432,778,025 on November 29, 2019,” noted the Paris-headquartered enterprise. “Following SharePlan 2019, AXA’s employees hold 5.13% of the share capital and 6.50% of the voting rights.”

Meanwhile AXA will undertake a cancellation of its shares in the next few days in accordance with its share repurchase programme, in order to eliminate the dilutive effect of the SharePlan 2019 offering.