AXA Equitable (EQH) IPO Opens Modestly Lower

Today's IPO for AXA Equitable (NYSE: EQH) opened for trading at $19.75 after pricing 137,250,000 shares of its common stock at a public offering price of $20 per share.

In connection with the offering, the selling stockholder has granted the underwriters a 30-day option to purchase up to an additional 20,587,500 shares of common stock.

Morgan Stanley, J.P. Morgan, Barclays and Citigroup are acting as joint lead book-running managers and underwriters for the offering. BofA Merrill Lynch, Credit Suisse, Deutsche Bank Securities, Goldman Sachs & Co. LLC, BNP Paribas, Societe Generale, ING, Credit Agricole CIB, HSBC, Natixis and RBC Capital Markets acted as joint book-running managers and underwriters for the offering.

AXA Equitable Holdings, Inc. (NYSE: EQH) is one of the leading financial services companies in the U.S. and is comprised of two complementary and well-established principal franchises, AXA Equitable Life Insurance Company and AllianceBernstein. We have been helping clients prepare for their financial future since 1859 and have a combined total of more than 12,200 employees and financial professionals, 5.4 million customer relationships and $670 billion of assets under management (as of 12/31/17).

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