Investec heads for ‘super league’ with plan to hive off funds unit
A separate listing could help unlock ‘trapped value’
The proposed demerger and separate listing of Investec Asset Management (IAM) from the wider group could propel the business into the "super league" and in so doing unlock substantial value for shareholders, said outgoing Investec CEO Stephen Koseff, who described Friday’s announcement as being akin to "watching my daughter leave home".
The announcement sent the share price of the banking group surging to its biggest intraday move in more than 10 years. After jumping as high as 13%, Investec closed 9.36% higher at R103.30.
If you are already a subscriber, please click on the following link to go to the full article: Plan to hive off funds unit boosts Investec