Old Mutual Says Quilter PLC IPO Priced at 145 Pence Per Share
June 25 2018 - 3:04AM
Dow Jones News
By Carlo Martuscelli
Old Mutual PLC (OML.LN) said Monday that it has priced the
initial public offering of its Quilter PLC wealth-management
business at 145 pence per share.
The financial holding company said it will sell 165 million
Quilter shares as part of the offering and receive proceeds of
around 231.1 million pounds ($306.4 million). Quilter said 1
million shares will be sold to certain nonexecutive directors of
both companies.
Quilter said the float will give it a market capitalization of
around GBP2.76 billion. Shares will be traded both in London and
Johannesburg.
London shares of the company will trade with the ticker code
QLT.
Previously, Old Mutual said the price range for the float was
between 125 pence and 155 pence per share.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
June 25, 2018 02:49 ET (06:49 GMT)
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