OM ASSET MANAGEMENT ANNOUNCES PRICING OF IPO
Old Mutual plc
Ref 219/14
9 October 2014
OM Asset Management Announces Pricing of Initial Public Offering
Old Mutual plc ("Old Mutual" or "the Group") today announces that the initial public offering of 22,000,000 ordinary shares of OM Asset Management has been priced at $14.00 per share. Shares of OM Asset Management are expected to begin trading today on the New York Stock Exchange under the ticker symbol "OMAM". The offering is expected to close on 15 October 2014.
The underwriters have a 30-day option to purchase up to an additional 3,300,000 shares from Old Mutual at the initial public offering price, less the underwriting discount, to cover over-allotments, if any.
Gross proceeds realised by Old Mutual will be $308 million. Proceeds after offering costs will be used for general corporate purposes.
BofA Merrill Lynch, Morgan Stanley, Citigroup and Credit Suisse are acting as joint book running managers for the offering.
The prospectus relating to the offering may be obtained from: BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, New York, NY 10038, email: dg.prospectus_requests@baml.com or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, NY 10014 or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or Credit Suisse Securities (USA) LLC, Attention: Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010, e-mail: newyork.prospectus@credit-suisse.com.
The prospectus may also be obtained, when available, for free by visiting the Securities and Exchange Commission's website at http://www.sec.gov.
OM Asset Management is a global, multi-boutique asset management company with approximately $221 billion of assets under management as of 31 August 2014 through a diverse portfolio of asset managers that serve institutional investors around the world. Its business model combines the investment, talent, entrepreneurialism, focus and creativity of leading asset management boutiques with the resources of and capabilities of a larger firm.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Enquiries
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External communications Patrick Bowes |
UK |
+44 20 7002 7440 |
|
Investor relations Dominic Lagan |
UK |
+44 20 7002 7190 |
|
Media William Baldwin-Charles |
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+44 20 7002 7133 +44 7834 524833 |
Notes to Editors
Old Mutual provides investment, savings, insurance and banking services to more than 16 million customers in Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.
In the year ended 31 December 2013, the Group reported adjusted operating profit before tax of £1.6 billion (on an IFRS basis) and had £294 billion of funds under management from core operations.
For further information on Old Mutual, please visit the corporate website at www.oldmutual.com
This information is provided by RNS
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