Investec withdraws 10% share offer in Ninety One due to market conditions

Demerger and listing on track

Investec has announced it will not pursue the public offer of 10% of the shares of its rebranded funds business Ninety One as part of its IPO, citing the recent market volatility.

It confirmed it will proceed with the proposed demerger and public listing of Ninety One, formerly Investec Asset Management, on 16 March. In a statement, Investec said that "in light of the recent...