TIISETSO MOTSOENENG: Pity about the timing, but hiving off Ninety One has strategic merits
Move frees up CEO Hendrik du Toit to pursue the Investec division’s next growth phase
18 March 2020 - 19:29
Few people expected Ninety One, a fund management spin-off of an SA investment bank and wealth manager, to make a sparkling stock market debut this week.
Ninety One endured a punishing sell-off on Monday, dropping more than 40% below the bottom-end of its prelisting price range, reflecting a broader bloodbath in the stock markets globally as investors panicked that the novel coronavirus, which has frozen out major economic centres, will trigger a long and steep downturn...
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