1234 GMT - Prudential PLC's 49% stake in an Indian asset management JV, which it is considering listing, could be worth around $5 billion, or a quarter of the London-listed insurer's total market capitalization, Bank of America says in a research note. "This is clearly only a high-level indication of value and any listing process could incur costs and lead to a discount (or premium) vs closest peers, but we think value discovery will be positive for Prudential," analysts write. They think that several investors aren't aware of the value of this business, which it holds jointly with ICICI Bank. The group also intends to return part of the proceeds to shareholders, which would be significantly accretive to its EPS and provide technical support for the stock. Prudential's London shares jump 7% to 732 pence, their highest level since July. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

February 12, 2025 07:34 ET (12:34 GMT)

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