Old Mutual has announced details of its stock market flotation in the same week Imro fined its fund management arm for a compliance flop.
The floatation will provide payouts of at least £400 each to around 5,000 UK investors.
The acquisitive company is keen to expand in the UK and has made two major buys within the last two years. It bought Capel Cure Myers for £70m in December 1997 and Albert E Sharp for £40m in September 1998.
Imro fined Old Mutual Fund Managers £20,000 for failing to take all reasonable steps and exercise due diligence to avoid the assets of four unit trusts under its management being incorrectly priced.