Quilter lists as standalone business with valuation of £2.8bn

Old Mutual said earlier this month that it had set a price range of 125p-155p per share for up to 9.6% of ordinary shares of Quilter ahead of its listing. The group said today that its IPO would be priced above the middle of this range at 145p per ordinary share. Based on this offer price, the market capitalisation of Quilter at admission will be approximately £2.758bn. It is expected the group will join the mid-cap index. The expected offering comprises of 165,010,507 ordinary shares to institutional placees, 1,002,064 ordinary shares to certain non-executive directors of Quilter a...