The decision affords OML to debut as a stand-alone business on several stock exchanges in Africa.
“The table is set for this historic event. We have a very compelling investment case that we’ve been sharing with potential and existing investors at our recent Investor Roadshow, and the excitement is really palpable.
Old Mutual has been part of Africa’s financial and social fabric continually for 173 years – and we are now reinvigorated and ready to take charge of our future as an independent entity firmly anchored in Africa,” Peter Moyo, OML Chief Executive Officer, was quoted.
Apart from listing on JSE, it will also do standard listing on the London Stock Exchange (LSE) and secondary listings on the Malawi, Namibia and Zimbabwe stock exchanges.
“As one of Africa’s largest financial services companies, our homecoming is a very exciting prospect. It’s a move that signals our commitment to create value for all our stakeholders on the continent.
Furthermore, it underscores our confidence in Africa’s remarkable resilience and ability to attract investors.
“For us at Old Mutual Limited, the listing marks a new beginning for our trusted brand, and opens opportunities to innovate and contribute to the inclusive growth of the economies we operate in,” Moyo concluded.
The listing follows a final court hearing that took place on Monday (25 June).
Old Mutual has been conducting business nearly two decades in London, and now they’re back taking over Africa.
