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Investec Group (IVTJF)

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6.700.00 (0.00%)
At close: 10:07AM EDT
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  • Reuters

    Investec to distribute 15% NinetyOne stake to shareholders

    JOHANNESBURG (Reuters) -South Africa's Investec said on Thursday it would distribute a 15% stake in asset manager NinetyOne to shareholders, as it also reported a more than two-fold rise in half-year profit. The financial services group spun off its asset management business and listed it as NinetyOne in London in 2020, but abandoned a plan to sell a 10% stake in the company as the COVID-19 pandemic roiled stock markets. It holds a 25% stake in the company.