Anglo-South African financial services group Old Mutual said on Wednesday it will retain a 19.9 percent strategic minority shareholding in Nedbank after the parent company’s planned split.
Old Mutual, whose primary share listing is on the London Stock Exchange, is planning to break itself up into four parts as it says regulatory changes make the company too complex to run in its current form.
The shareholding in Nedbank, which is a majority-owned banking subsidiary of Old Mutual plc, will have a primary listing on the JSE and a secondary listing on the London Stock Exchange, the companies said in a statement.
- UCT GSB partners with WEF to bring YGL to the Mother City
- Government is scrapping experience as a requirement for entry-level jobs – here’s what you need to know
- Why Black Friday comes at a terrible time for South Africa
- Here are all the Momentum medical aid price increases for 2019
- Manufacturing Indaba Western Cape 2018