Asian investors have shunned shares in Prudential after it listed in the region in May, providing further ammunition to critics who believe the UK group mishandled its attempt to buy AIG's local life insurance unit.
Fewer than 40,000 of the Pru's shares changed hands, on average, each day last week on the Hong Kong and Singapore stock exchanges, compared with a daily trading volume above 12m in London.
“It's fallen very flat because the deal didn't take place,” said Hugh Young, managing director of Aberdeen Asset Management Asia in Singapore. “Prudential is left with a listing that's pretty redundant.”
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