Ninety One to float on the stock exchange

Ninety One, previously known as Investec Asset Management, will be listed on the London Stock Exchange on March 10. The stock market released an announcement that the initial public offering of the asset management firm will be valued between £1.75bn and £2.1bn. 

The company provides a variety of open-ended funds in the UK, and reported assets under management of over £120bn in 2019.

Ninety One rebranded from Investec Asset Management in November last year following its demerger from parent company Investec, the South African bank. The firm is chaired by Gareth Penny, who was previously the chairman of De Beers.