Old mutual shares
Old Mutual unit picks banks for $3.35bn flotation – sources
The Old Mutual Wealth flotation is one of several legs in the process of splitting parent Old Mutual into four parts.
Old Mutual defended the proposed payout of 1,000% of base salary for CEO Bruce Hemphill on Thursday, after a report revealed there was a shareholder rebellion brewing.
The maximum pay-out will depend on the achievement of performance targets measured.
Old Mutual yesterday confirmed it’s received multiple approaches from potential buyers of its stake.
Old Mutual says changes to regulations in Europe and South Africa have made it more complex to run.
Abraaj said it would continue to support Libstar’s pan-African growth strategy.
The group performed well this year notwithstanding the volatility of the rand.