Old Mutual sets price range for Quilter listing; Sale of Buxton's single-strategy business approved

Quilter due to list on 25 June

Laura Dew
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Old Mutual Wealth chief executive Paul Feeney
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Old Mutual Wealth chief executive Paul Feeney

Old Mutual has set a price range of 125p-155p per share for up to 9.6% of ordinary shares of Quilter ahead of its listing later in the month and received regulatory approval for the sale of Richard Buxton's single-strategy funds business.

The firm said the expected offer size is up to 164,977,971 ordinary shares, together with an over-allotment option of up to 10% of the total number of ordinary shares comprised in the global offer, which will represent 9.5% of Quilter's ordinary shares at the time of admission.  The final price will be announced on or about 25 June, the day Quilter is due to list on the London Stock Exchange (LSE). Old Mutual is then due to de-list from the LSE the following day.  Managed separation update: Old Mutual to offer 9.6% of Quilter in demerger For every three Old Mutual plc shares held, ...

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