Plunge of 40% eclipses Ninety One’s listing debut
But CEO says the global turmoil offers huge opportunities for Investec’s asset management arm
16 March 2020 - 12:46
Braving coronavirus-induced historic losses in equity markets, Ninety One, Investec’s newly created asset management arm, debuted with a more than 40% plunge in shares on Monday and started its journey as an independent business.
Shares in Ninety One, which gets its name from the year it was founded, were 22.6% lower than the bottom end of its target range in London, where it has a primary listing. The stock was at R33.70 by the close in Johannesburg, down 38.7%..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.