AXA Equitable Holdings, the financial services operations of AXA SA, filed on Monday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise as much as $3 billion. The company's core franchises are AXA Equitable Life and AllianceBernstein.
The New York, NY-based company was founded in 1859 and booked $10.8 billion in revenue for the 12 months ended June 30, 2017. It has not determined a ticker or exchange. Morgan Stanley and J.P. Morgan are the joint bookrunners on the deal. No pricing terms were disclosed.
