Will Dan Loeb turn Prudential into an AIA?

IF BILLIONAIRE activist investor Daniel Loeb's campaign to have Prudential Plc separate its Asian and US operations into two public listed companies gains traction, Singapore investors might briefly experience the thrill of having an insurance stock in the local market that trades like Hong Kong's AIA Group.

Yet, if Prudential does eventually split itself up, its Asian business might not be listed in Singapore, Mr Loeb tells The Business Times in a phone interview. "Probably Hong Kong, although I wouldn't rule out Singapore," he says.

Mr Loeb's asset management firm Third Point LLC has amassed a nearly 5 per cent stake in Prudential, and has sent a letter to its board that outlines plans to create value for shareholders by restructuring the group.