AXA Equitable Files For U.S. IPO
November 30, 2017 by Donovan Jones
Summary
AXA Equitable Holdings has filed for a $100 million IPO, likely a placeholder figure for a much higher amount.
The company provides a range of insurance, annuity, investment management and research services to individuals and organizations in the U.S.
AXA Equitable has experienced a volatile last five and a half years of financial performance, so parent AXA wants to monetize its investment while the environment is conducive to it.
When we know more financial details about the IPO, I’ll provide a final opinion on my Marketplace service IPO Edge.
Quick Take
AXA Equitable Holdings (AXA) has filed an S-1 registration statement for a placeholder amount of $100 million in a U.S. IPO.
The firm, which is a wholly owned subsidiary of France-based AXA that has operations in more than 60 countries, provides a range of insurance, annuity and investment research services to individuals and institutions.
AXA Equitable has undergone a volatile last five and a half years of financial performance, so its parent likely wants to minimize its exposure to that unpredictability.
We don’t know the financial terms of the IPO yet. When we learn those details, I’ll provide a final opinion on my Seeking Alpha Marketplace IPO Edge.
Company
New York-based AXA Equitable was originally founded in 1859 as The Equitable, acquired by AXA in 1991 and incorporated in 2003 in its current form to provide insurance and annuity financial services to U.S.-based individuals and institutions.
Management is headed by President and CEO Mark Pearson, who has been with the parent firm since 1995 and was previously president and CEO of AXA Japan Holding Co.
AXA Equitable operates through primarily two franchises:
- AXA Equitable Life – Provides various types of life, annuity and retirement plan services to individuals and retirement plan sponsors.
- AllianceBernstein (AB) – Investment management and research for individuals and institutions with a total of $517 billion AUM (Assets Under Management) as of June 30, 2017.
