Old Mutual Ltd’s share price was mostly a sad match for the thunder of vuvuzelas that welcomed the 173-year-old firm’s JSE listing at a ceremony on Tuesday. A crowd of supporters sporting green vuvuzelas at the market opening at the JSE’s Sandton headquarters was unable to kickstart trade in the share. Despite muted trade, the stock closed 3.16% higher at R29.40. Old Mutual, which has had a primary listing in London and a secondary listing in Johannesburg since it ceased being a mutual in 1999, is now firmly back on South African soil after nearly two decades of wanderlust that have yielded paltry shareholder returns. Old Mutual shareholders were getting "an insurance group run from South Africa by South Africans", said Old Mutual Ltd CEO Peter Moyo. The listing marks the end of Old Mutual’s four-way split, recognition that the sum of the parts was more valuable than the unwieldy conglomerate it had become. Old Mutual listed in Malawi, Namibia and Zimbabwe on Tuesday. Old Mutual has...

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