Old Mutual Limited is expecting to be listed on the Johannesburg Stock Exchange (JSE) on 26 June 2018 following a receipt of the requisite approvals, including approval by Old Mutual Plc shareholders, the company has announced.
In a statement published recently, Old Mutual will also have a standard listing in the United Kingdom and will trade on the London Stock Exchange’s (LSE) main market for listed securities.
“Old Mutual Limited (OML) has published its pre-listing statement (PLS) in connection with the proposed admission of ordinary shares in OML to a primary listing on the Johannesburg Stock Exchange (JSE).
“It is expected that the listing will take place on 26 June 2018 following receipt of the requisite approvals, including approval by Old Mutual plc shareholders.
“It is expected that OML will also have a standard listing in the United Kingdom and will trade on the London Stock Exchange’s (LSE) main market for listed securities, and secondary listings on the Malawi Stock Exchange (MSE), the Namibian Stock Exchange (NSX) and the Zimbabwe Stock Exchange (ZSE),” reads the statement.
According to the Group Chief Executive Officer, Peter Moyo, the listing of OML on the JSE will signal the return of Old Mutual to Africa.
“We are on track with our listing as part of the managed separation process and the publication of the PLS is a key milestone in this process.
“The listing of OML on the JSE will signal the return of Old Mutual to Africa where it is well positioned to offer the best solutions to our customers within our key client segments,” said Moyo.
In March 2016, Old Mutual plc announced that the long-term interests of its shareholders and other stakeholders would be best served by separating the four businesses then owned by the Old Mutual plc Group from each other so that they could operate as fully independent businesses.
