Global asset manager Ninety One aims to float on LSE and JSE

Maria Nikolova

The Ninety One plc shares will be listed on the Main Market of the LSE, with a secondary inward listing on the Main Board of the JSE.

Global asset manager Ninety One, currently known as Investec Asset Management, today confirms its intention to proceed with an Initial Public Offering (IPO) of Ninety One Shares and announces certain details of the IPO.

The intention to float follows the announcements by Investec plc and Investec Limited earlier in February regarding the successful outcome of the Investec shareholder vote to proceed with the demerger and listing of Ninety One.

The offer will comprise up to approximately 10% of the combined total issued Ninety One shares to be sold by Investec to new or existing institutional and certain other investors. Ninety One staff plan to participate in the offer alongside institutional investors.

Following the demerger, the Ninety One plc Shares will be listed on the Main Market of the London Stock Exchange, with a secondary inward listing on the Main Board of the Johannesburg Stock Exchange and the Ninety One Limited Shares will be listed on the Main Board of the Johannesburg Stock Exchange.

“The dual-listing structure will acknowledge our South African roots, while the London listing positions us for continued international growth,” says Hendrik du Toit, Investec Joint Chief Executive Officer and Ninety One Founder.

After admission, Ninety One intends to have a free float of 60-65% of Ninety One’s issued shares.

The Ninety One Group is a founder-led independent global asset manager, established in South Africa in 1991 with £121 billion in assets under management, as at September 30, 2019. It primarily offers a range of high-conviction, active strategies to its client base across the world.

At present, the Ninety One Group serves its client base via five regional teams – Africa, the United Kingdom, Asia Pacific, the Americas and Europe and across two distribution channels – Institutional and Advisor. Institutional clients include some of the world’s largest private and public sector pension funds, sovereign wealth funds, insurers, corporates, foundations and central banks, while Advisor clients include large retail groups, wealth managers, private banks and intermediaries serving individual investors.

For the six months ended September 30, 2019, the Ninety One Group had net inflows of £3.2 billion and operating profit before exceptional items of £97.3 million.

Read this next


These Altcoins Have The Potential To Make You a Millionaire in 2024

The crypto market is witnessing a surge, and certain alternate coins are catching attention for their rapid growth.

Digital Assets

Point72 invests $77.5 million in Bitcoin, Morgan Stanley holds $269.9 million

Point72, the $34 billion hedge fund owned by billionaire and New York Mets owner Steven Cohen, held $77.5 million in the Fidelity Wise Origin Bitcoin Fund (FBTC) at the end of the first quarter, according to a recent filing.

Digital Assets

Binance claims Nigerian officials sought $150 million bribe

A Nigerian court has ruled that Tigran Gambaryan, a Binance executive detained on charges of tax evasion and money laundering, can stand trial on behalf of the world’s largest cryptocurrency exchange.

Digital Assets

Kraken reviews Tether listing in Europe ahead of MiCA adoption

Cryptocurrency exchange Kraken is “actively reviewing” whether to delist the stablecoin Tether (USDT) from its European platform, according to a report by Bloomberg.


Discover How MoonBag Coin Presale Stacks Up Against Dogecoin & Litecoin

Discover how the MoonBag Coin presale compares to Dogecoin and Litecoin, with unique features, a robust presale structure, and new opportunities in 2024.

Fundamental Analysis, Market News, Tech and Fundamental

Global FX Market Summary: Federal Reserve Policy, USD, May 17 ,2024

Overall, both the Federal Reserve’s policy and the US dollar’s outlook are shrouded in some degree of uncertainty.

Market News, Tech and Fundamental, Technical Analysis

Ethereum Technical Analysis Report 17 May, 2024

Ethereum cryptocurrency can be expected to rise further toward the next resistance level 3200.00, which is the top of the previous impulse wave i.

Digital Assets

Hong Kong adopts digital yuan payments through Chinese banks

Hong Kong has launched a pilot program enabling digital yuan payments through major Chinese banks, marking the first instance of China’s digital currency project being deployed outside the mainland.

Retail FX

Saxo Bank increases client assets five-fold to $116 billion

Copenhagen-based broker Saxo Bank has achieved a major milestone, surpassing $116 billion (DKK 800 billion) in client assets.