AssetCo seeks rebrand and spinoff of Parmenion shares amid falling AUM

Under River Global brand

clock • 2 min read

AssetCo will seek approval from shareholders to introduce a new share class for its 30% stake in Parmenion and change the company's name to River Global.

In its half-year report for the six months to 31 March 2024 published today (28 June), the company said the name change follows a simplification in business interests over the past 18 months, which has led to AssetCo now trading wholly owned equities under the name River Global, along with its stake in the Parmenion platform. Because the two sides of the business appeal to different types of investors, AssetCo said it will publish proposals for a share split in due course. The newly issued shares are expected to be traded on a matched bargain basis and not on AIM, AssetCo chair Martin Gi...

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