Axa increases its capital to finance its external growth

Axa has confirmed a 2 billion EUR (2.9 billion USD) capital increase designed to finance its acquisition or the takeover of minority stakes. The targeted markets are those endowed with a high growth potential. Among the candidates stands Axa Asia Pacific Holdings (Australia) in whose capital Axa already detains 54%. The capital increase will be carried out by providing preferential rights for current shareholders.
To this end, more than 174.11 million new shares will be issued. They will be proposed at the rate of 11.9 EUR (17.8 USD), that is, a cut of about 30% in comparison with the closing price of November 06, 2009. Axa reference shareholders have already subscribed to this offer.