Ninety One seeks FTSE 250 entry after LSE flotation
Ninety One, the asset management division of Investec, has announced its intention to float on the London Stock Exchange, formally launching what is likely to be one of the largest UK IPOs this quarter.
The IPO is expected to value the £121bn ($157bn) asset manager at around £1.7bn, according to a source close to the trade.Peers such as Amundi, DWS, Jupiter Asset Management and Schroders all trade at enterprise values of about 13 to 16 times their Ebitda in the last financial ...
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