AXA Equitable Gears Up for IPO

By Chris Lange Updated Jan 12, 3:21AM EST · Published Feb 15, 9:46AM EST

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AXA Equitable Gears Up for IPO — © Thinkstock

AXA Equitable Holdings has filed an amended S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). No pricing details were mentioned in the filing; however, the offering is valued up to $100 million. The company intends to list its share on the New York Stock Exchange under the symbol AEQH.

The underwriters for the offering are Morgan Stanley, JPMorgan, Barclays and Citigroup.

This is one of America’s leading financial services companies, and that helps clients prepare for retirement. The firm has over 12,100 employees and advisors that are entrusted with more than $600 billion of assets under management through two complementary and well-established principal franchises, AXA Equitable Life and AllianceBernstein.

The firm has four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. Each is a well-established and distinct business, but complementary to one another. For example, as of September 30, 2017, AB managed 72% of AXA Equitable Life’s General Account and 27% of its Separate Account assets.

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Management believes that its diversity of products and services offered by these businesses contributes to strong retention of financial professionals within AXA Advisors.

According to the firm:

The Individual Retirement business is an important source of earnings and cash flow for our company, and we believe our hedging strategy preserves a substantial portion of these cash flows across a wide range of risk scenarios. The primary sources of revenue for the Individual Retirement segment include fee revenue and investment income.

Keep in mind that for last year, Individual Retirement segment revenue was $3.7 billion and segment operating earnings were $1.1 billion.

The company intends to use the net proceeds from the offering for working capital and general corporate purposes.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.