Equitable Holdings Announces Agreement to Repurchase Residual Shares Held by AXA S.A. Following the Maturity of Mandatory Exchangeable Bond

Rhea-AI Summary

Equitable Holdings (NYSE: EQH) announced an agreement to repurchase 7.1 million shares from AXA S.A. due to the maturity of mandatory exchangeable bonds issued by AXA on May 14, 2018. The transaction is set to close on May 20, 2021. This strategic buyback underscores Equitable's commitment to enhancing shareholder value and reflects confidence in its financial stability.

Positive

• Share repurchase of 7.1 million shares indicating confidence in future performance.
• Enhances shareholder value through buyback strategy.

Negative

• None.

Equitable Holdings, Inc. (NYSE: EQH) today announced that it has agreed to repurchase 7.1 million shares from AXA S.A. (“AXA”) following the maturity of the mandatory exchangeable bonds originally issued by AXA on May 14, 2018. The transaction will close on May 20, 2021.

About Equitable Holdings

Equitable Holdings, Inc. (NYSE: EQH) is a financial services holding company comprised of two complementary and well-established principal franchises, Equitable and AllianceBernstein. Founded in 1859, Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. AllianceBernstein is a global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets. Equitable Holdings has approximately 12,000 employees and financial professionals, $822 billion in assets under management (as of 3/31/2021) and more than 5 million client relationships globally.

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FAQ

What is the purpose of Equitable Holdings' share repurchase from AXA?

The share repurchase aims to return value to shareholders and reflect confidence in the company's financial health.

When will the share repurchase transaction close?

The transaction is expected to close on May 20, 2021.

How many shares is Equitable Holdings repurchasing from AXA?

Equitable Holdings is repurchasing 7.1 million shares from AXA S.A.

What is the significance of the share repurchase for EQH shareholders?

The share repurchase is expected to enhance shareholder value by reducing the number of shares outstanding.