Investec expects to raise £189m from demerger

Anglo-South African financial services group Investec expects to raise £189m with the sale of around 10% of equity in its fund management division when it spins-off the unit in March 2020. Investec, which manages more than £119bn in assets, announced plans for the split last year and said the asset manager would be better able to focus on creating long term value away from Investec's banking and wealth operations. The new unit will be known as Ninety One and will be listed in both London and Johannesburg.It will be incorporated as Ninety One plc in England and Wales and Ninety One Lim...