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LONDON - Aviva (LON:AV) PLC announced the admission of 378,143,305 new ordinary shares to trading on the London Stock Exchange (LON:LSEG)’s main market, effective Thursday morning. The shares were issued as part of Aviva’s previously announced acquisition of Direct Line (LON:DLGD) Insurance Group PLC.
According to a company statement, the new shares were admitted to the Official List maintained by the Financial Conduct Authority and began trading at 8:00 a.m. on Thursday. Each new share has a nominal value of 32 17/19 pence.
Following the admission, Aviva’s total issued share capital now stands at 3,057,000,059 ordinary shares. The company noted that shareholders may use this figure as the denominator for calculations to determine if they are required to notify their interest in Aviva under the FCA’s Disclosure Guidance and Transparency Rules.
The share issuance is part of the recommended cash and share offer for Direct Line that was detailed in a scheme document published on February 10, 2025. The acquisition is being implemented through a Scheme of Arrangement under Part 26 of the Companies Act 2006.
The transaction represents a significant expansion of Aviva’s insurance operations in the UK market, combining two major insurance providers. Direct Line is known for its motor and home insurance products in the British market.
This development marks a key milestone in the completion of the acquisition process that was announced earlier this year.
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