NEDBANK STAKE
Old Mutual investors set for R10bn jackpot
The insurance giant says it is too soon to tell if it needs additional provisions for mortality claims
23 June 2021 - 08:38
UPDATED 23 June 2021 - 22:45
Old Mutual shareholders are poised to share in a R10bn windfall after the insurer unveiled plans to distribute a portion of its stake in Nedbank.
Old Mutual will hand investors roughly 62-million Nedbank shares, or about 12%, worth R10.4bn based on the bank’s closing price on Wednesday. That will cut its holding in Nedbank to just over 7%...
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