Investec To Spin Off Asset Management Division in IPO

Investec yesterday announced an Initial Public Offering (IPO) for its Asset management division called Ninety One.

10% of the combined total issued  share capital of Ninety One will be sold to new and existing shareholders during the IPO.

Ninety One Shares Will be traded on the London Stock Exchange with a secondary listing on the Johannesburg Stock Exchange.

Ninety One has 121 Billion Pounds  worth of Assets under its management.

Investec To Spin Off Asset