Ninety One, the rebranded Investec Asset Management, will be valued at around £2bn when it comes to market, the company announced on Monday (2 March).
Ninety One said its flotation would be priced at between 190p and 235p, valuing the firm at between £1.7bn and £2.2bn. A valuation upwards of £2bn would put it on the fringes of the FTSE 100. The current smallest blue-chip stock in the UK, NMC Health, has a market cap of just shy of £2bn. However, with a reshufflejust around the corner and the next smallest, Micro Focus, at £2.4bn, it will likely land in the FTSE 250. The IPO will put 10% of the company's shares up for sale, with £180m to £226m expected to be raised. More than half of the company's shares will be owned by Investec shareh...
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