Aviva prepares for US listing
Aviva has announced that it intends to list on the New York Stock Exchange (NYSE) and will commence trading on 20th October 2009.
No new Aviva ordinary shares will be issued in connection with the listing and the group will retain its current primary listing on the London Stock Exchange.
The UK’s biggest, and world’s fifth-largest, insurer says it has completed the registration process with the US Securities and Exchange Commission and received authorisation from NYSE to list.
Over 20% of Aviva’s shareholders are already in the US and the group expects the listing to give it further access to a wider potential shareholder base.
In addition, US investors will gain more convenient and cost efficient means to hold Aviva shares and “competitive incentive programmes” will allow the group to attract and retain staff outside the UK.
Furthermore, the listing will support the firm’s ambitions in the US retirement and life insurance markets.
Group chief executive, Andrew Moss, comments: “The US is … the largest savings market in the world and represents a significant growth opportunity for us over the long term.”
He adds: “Listing now is a natural step for Aviva as more than 20% of our shareholders are in the US and we expect that number to increase.”
Category: Aviva News, Financials, Insurance News
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