'Parent becomes child' as Old Mutual comes home after almost two decades
The kudu horn will be sounded at the JSE on Tuesday for a listing that is significant for the JSE and for South Africa, bringing to fruition the more than two-year-long process in which London-listed Old Mutual plc has separated itself out into its component businesses to boost value for its shareholders. Johannesburg-based Old Mutual Ltd, which will gain its primary listing on the JSE on Tuesday, with a secondary listing on the London Stock Exchange, houses the group's insurance, financial services and banking businesses in South Africa and sub-Saharan Africa. It is one of two listings in the coming week to have been born out of Old Mutual plc's managed separation process. Quilter, previously known as Old Mutual Wealth, will have its primary listing on the LSE and a secondary listing on the JSE. Shareholders of Old Mutual plc, who include about 450000 small retail investors in South Africa along with large South African and international institutional investors, will receive new sh...
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