15th Jun 2015 10:47
LONDON (Alliance News) - Old Mutual PLC Monday said it is set to sell 11 million shares in OM Asset Management PLC, the boutique asset manager it spun off in a float on the New York Stock Exchange in the autumn of 2014.
Old Mutual, a FTSE 100-listed, Anglo-South African investment, savings, insurance and banking group, said the offering will be made through joint bookrunning managers BofA Merrill Lynch, Morgan Stanley & Co. LLC, Citigroup, and Credit Suisse Securities (USA) LLC.
The underwriters will have a 30-day option to buy up to a further 1.65 million shares from Old Mutual.
No new shares are being sold by OM Asset Management.
Old Mutual shares were down 1.5% at 204.80 pence on Monday.
By Samuel Agini; [email protected]; @samuelagini
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