OM Asset Management announces launch of IPO

RNS Number : 3681S

Old Mutual PLC

23 September 2014

 



Old Mutual plc

Ref 199/14

23 September 2014

OM Asset management announces the launch of an initial public offering

Old Mutual plc ("Old Mutual") today announces that it has launched the initial public offering ("IPO") of its subsidiary OM Asset Management Limited, the holding company for Old Mutual's US-based institutional asset management business. Old Mutual intends to sell 22,000,000, or 18.3%, of OM Asset Management's ordinary shares at a price per share range between $15.00 and $17.00.

Old Mutual has also granted the underwriters a 30-day over-allotment option to purchase up to an additional 3,300,000 shares. The ordinary shares have been approved to trade on the New York Stock Exchange under the symbol "OMAM". The offering is being made through global co-ordinators and joint book-running managers BofA Merrill Lynch, Morgan Stanley & Co. LLC, Citigroup, and Credit Suisse Securities (USA) LLC.

The prospectus relating to the offering may be obtained from: BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, New York, NY 10038, email: [e-mail] or  Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, NY 10014 or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or Credit Suisse Securities (USA) LLC, Attention: Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010, e-mail: [e-mail].

OM Asset Management is a global, multi-boutique asset management company with approximately $215 billion of assets under management as of 30 June 2014 through a diverse portfolio of asset managers that serve institutional investors around the world. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

External communications

Patrick Bowes                           UK         [phone]

Investor relations

Dominic Lagan                           UK        [phone]

Media

William Baldwin-Charles                         [phone]

                                                             [phone]

Notes to Editors

Old Mutual provides investment, savings, insurance and banking services to more than 16 million customers in Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.

In the year ended 31 December 2013, the Group reported adjusted operating profit before tax of £1.6 billion (on an IFRS basis) and had £294 billion of funds under management from core operations.

For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com 

 

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