GA Preference Shares

Aviva’s Preference Share Offer: A Reasonable Offer, But Could It Be Better?

Introduction: A Second Bite at the Cherry On March 11, 2025, Aviva PLC announced a tender offer and a proposed cancellation of its 8.375% and 8.75% Cumulative Irredeemable Preference Shares. This follows a similar, and highly controversial, attempt in 2018, which was ultimately withdrawn after significant investor backlash. While this new offer is structured differently, and is undoubtedly an improvement on the 2018 proposal, it still raises important questions for individual investors, particularly those who rely on these shares for income. ShareSoc has ...