Investec’s Ninety One pushes on with float despite market turmoil
JOHANNESBURG – Ninety One, the asset management arm of South Africa-based banking group Investec, said it was pressing ahead with its listing on March 16, despite the recent sell off in markets sparked by the spread of coronavirus.
The group said on Monday it had set a price range of 190 to 235 pence per share, valuing itself at 1.75 billion to 2.1 billion pounds ($2.25 billion to $2.70 billion).
Global stocks fell 10.2% last week as concerns about the impact of coronavirus escalated, prompting speculation that stock exchange floats would have to be pulled.
Source: iol.co.za