Standard Chartered plc is seeking buyers for its Hong Kong pension business valued at about $350 million in a deal that would also involve a 15-year distribution agreement with the new owner, people with knowledge of the matter told Reuters. Suitors including Prudential plc, Principal Financial Group, Sunlife Financial Inc, Metlife Inc and Manulife Financial Corp are expected to take part in the auction, the people added.Any deal would mark Standard Chartered's second sale of a Hong Kong business in less than six months and comes as newly appointed Chief Executive Bill Winters is expected to overhaul the Asia-focused lender which has faced a prolonged slump in profits and regulatory fines. The sale is not part of Standard Chartered's restructuring but was aimed at offering better services to clients, two sources said.
MetLife, Inc.is a provider of insurance, annuities and employee benefit programs, serving 90 million customers in over 50 countries. Shares of MET fell by 0.02% or $-0.01/share to $53.10. In the past year, the shares have traded as low as $46.10 and as high as $57.57. On average, 6091180 shares of MET exchange hands on a given day and today's volume is recorded at 6027134.
Manulife Financial Corporation is a financial services company. Shares of MFC fell by 0.21% or $-0.04/share to $19.14. In the past year, the shares have traded as low as $15.89 and as high as $20.77. On average, 1876270 shares of MFC exchange hands on a given day and today's volume is recorded at 1776391.
Manulife Financial Corporation is a financial services company. Shares of MFC fell by 0.43% or $-0.1/share to $22.92. In the past year, the shares have traded as low as $18.91 and as high as $23.25. On average, 3389140 shares of MFC.TO exchange hands on a given day and today's volume is recorded at 2742815.
Principal Financial Group, Inc. (PFG) is a provider of retirement services, insurance solutions and asset management. Shares of PFG fell by 0.08% or $-0.04/share to $51.65. In the past year, the shares have traded as low as $44.66 and as high as $55.07. On average, 1290070 shares of PFG exchange hands on a given day and today's volume is recorded at 625481.
Prudential plc (Prudential) is an international financial services group, with operations in Asia, the United States and the United Kingdom. Shares of PUK traded higher by 0.42% or $0.21/share to $50.79. In the past year, the shares have traded as low as $41.88 and as high as $52.60. On average, 242203 shares of PUK exchange hands on a given day and today's volume is recorded at 185089.
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