August 7, 2019 / 3:30 PM / a month ago

Investec expects to float asset management unit next year

JOHANNESBURG (Reuters) - Investec (INLJ.J) (INVP.L) has received full key regulatory approvals for the proposed spin-off and separate listing of its asset management unit, which it now expects to complete in the first quarter of next year, it said on Wednesday.

The investment bank announced in September that it would float the unit on the London Stock Exchange with a separate listing in Johannesburg in a surprise restructuring that followed similar moves by its peers.

Reporting by Emma Rumney; Editing by Jan Harvey

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