Investec is to list on the London Stock Exchange this month, in the hope it will allow it to raise c...
Investec is to list on the London Stock Exchange this month, in the hope it will allow it to raise capital more easily for future acquisitions.
Stephen Koseff, chief executive of Investec, said: 'Acquisition opportunities will be investigated where they either bolster the critical mass of Investec's existing businesses, or allow us to enter new markets considered to be of strategic value.'
The group is to retain its listing on the Johannesburg Securities Exchange.
In order to instigate a dual listing, Investec will implement the necessary structural changes, which entails splitting the group's UK and South African operations, although they will remain under the one Investec holding company.
Investec plc will be headquartered in London and listed on the London Stock Exchange, while Investec Group Limited, to be renamed Investec Limited, and Investec as a whole will be headquartered in Sandton, South Africa.
The groups will continue to have their own board of directors but these boards will comprise the same people.
The offer period for Investec plc expected to run until the end of July, with Schroder Salomon Barney acting as sole sponsor to the listing.
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