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Report: Old Mutual Wealth demerger could involve IPO, spokesman says

The demerger of Old Mutual Wealth from parent could involve thesale of shares through an IPO, Reuters reported Oct. 12, citing an Old Mutualspokesman.

Old Mutual Plc is planning a "managed separation"of its business into four main entities: Old Mutual Emerging Markets,Nedbank Group Ltd.,OM Asset Managementplc and Old Mutual Wealth. Old Mutual Wealth suffered a drop in netclient cash flows to £900 million in the third quarter, from £2.3 billion ayear ago, the company said.