UPDATE 2-Pru gets HK listing OK, eyes Singapore-sources

* Listing on Singapore exchange under consideration-source

* HK exchange grants approval for listing -source
(Adds Mason short position)

HONG KONG, April 22 (BestGrowthStock) – British insurer Prudential
Plc (PRU.L: ) is considering a secondary listing on the Singapore
Stock Exchange, as part of a wider plan to lure Asian investors
to its massive $21 billion rights offer, sources said.

Prudential’s Singapore listing news comes on top of its
proposed Hong Kong listing plans. The Hong Kong exchange has
granted approval to Pru’s listing, one source with direct
knowledge of the matter told Reuters on Thursday.

A spokesman for Prudential declined to comment.

Pru’s Hong Kong listing is a key step in the process for its
$35.5 billion purchase of American International Group Inc’s
(AIG.N: ) life insurance group, AIA.

Pru does not plan to raise capital through any of its Asian
listings, but that would bring the company closer to its
customers and shareholders.

Singapore’s biggest sovereign fund GIC [GIC.UL] is among the
large institutions that have committed to underwrite Pru’s $21
billion rights offer, which would be partly used to fund the AIA
acquisition. GIC currently owns a 0.5 percent stake in Pru.

Pru is betting big time on Asian growth by its planned
acquisition of AIA, which is the biggest ever insurance deal.

Prudential has said it is seeking a primary listing in Hong
Kong to attract Asian investors to the rights offer.

Separately, regulatory filings on Thursday showed hedge-fund
manager Mason Capital Management had placed an almost 48 million
pound bet on a fall in Pru’s share price.

Mason disclosed a 0.38 percent short position, just days
before Prudential is expected to disclose details of its capital
raising in prospectuses for its listing and share issue.

The statement follows a similar announcement from hedge fund
Lansdowne Partners on Wednesday, which showed a 0.32 percent
short position. Lansdowne has since increased that position to
0.42 percent.

A source familiar with that situation said the holding was a
“slight hedge” against a long position on UK banks.

Mason was not immediately available for comment.

Penny Stocks

(Reporting by Denny Thomas and Kennix Chim; editing by
Jacqueline Wong and Karen Foster)

UPDATE 2-Pru gets HK listing OK, eyes Singapore-sources