Ninety One IPO set to proceed with £2bn valuation

Ninety One said its flotation would be priced at between 190p and 235p, valuing the firm at between £1.7bn and £2.2bn. A valuation upwards of £2bn would put it on the fringes of the FTSE 100. The current smallest blue-chip stock in the UK, NMC Health, has a market cap of just shy of £2bn. However, with a reshufflejust around the corner and the next smallest, Micro Focus, at £2.4bn, it will likely land in the FTSE 250. The IPO will put 10% of the company's shares up for sale, with £180m to £226m expected to be raised. More than half of the company's shares will be owned by Investec shareh...