The listing of Nedbank's US asset management arm, Nedbank Asset Management (OMAM) has netted the company $291m proceeds minus underwriting costs. Nedbank, which is in the process of separating from its other businesses OMAM, Nedbank Emerging Markets, Nedbank Wealth and Old Mutual, said it would use the funds raised for "general corporate purposes".
The listing of Old Mutual's US asset management arm, Old Mutual Asset Management (OMAM) has netted the company $291m proceeds minus underwriting costs. Old Mutual, which is in the process of separating from its other businesses OMAM, Old Mutual Emerging Markets, Old Mutual Wealth and Nedbank, said it would use the funds raised for "general corporate purposes".