17th Jun 2015 06:29
LONDON (Alliance News) - Old Mutual PLC Wednesday priced the sale of a further stake 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, at USD17.50 a share.
Old Mutual, a FTSE 100-listed, Anglo-South African investment, savings, insurance and banking group, said the underwritten public offering of 13.3 million shares will close on June 22. It had announced the planned share sale on Monday.
BofA Merrill Lynch, Morgan Stanley, Citigroup, and Credit Suisse are acting as joint bookrunning managers for the offering.
By Steve McGrath; [email protected]; @stevemcgrath1
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