Prudential funds buyback with $700m from ICICI Pru AMC IPO

The 2026 buyback will comprise $500m of recurring capital returns.

Prudential Plc. has announced a share buyback programme of up to $1.2b, to be completed by 18 December 2026. 

The move forms part of the company’s ongoing capital return strategy, aimed at reducing issued share capital and returning value to shareholders.

The 2026 buyback will comprise $500m of recurring capital returns and $700m from the net proceeds of the ICICI Prudential Asset Management Company IPO. 

Prudential said the pace and timing of purchases will depend on market conditions, with J.P. Morgan Securities appointed to execute the buyback independently.

The programme covers up to 204 million ordinary shares, representing about 3% of Prudential’s issued share capital at the 5 January 2026 closing price, with all shares intended to be cancelled. 

Prudential will also continue its neutralisation buybacks to offset dilution from employee and agent share schemes and scrip dividends.

CEO Anil Wadhwani said the company remains focused on “creating long-term shareholder value through high-quality, sustainable growth, and consistent delivery of shareholder returns.” The buyback is part of a broader plan to return over $5b to shareholders between 2024 and 2027.