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Quilter lists with £2.7bn valuation

Quilter has listed on the London Stock Exchange valued at £2.76bn.

The business, formerly Old Mutual Wealth, has separated from parent Old Mutual Plc with an offer price of 145 pence per share.

Quilter chief executive Paul Feeney says: “We are delighted to be in a position to list as a standalone business and are excited by the opportunities ahead of us.”

Feeney says: “Having established leading positions across one of the largest wealth management markets in the world, and it is a structural growth market, I believe we have great momentum to build on our success and a bright future ahead.”

Earlier this month Old Mutual Plc set the the price range for Quilter shares between 125 pence and 155 pence per ordinary share.

Quilter also listed on the Johannesburg Stock Exchange today.

The future of Old Mutual: Will a breakup be hard to bear?

Old Mutual Wealth confirmed its name change in March.

The business’s subsidiaries will be re-branded to Quilter over a two-year period after the separation.

In the meantime it will continue to use the names Old Mutual Wealth (UK Platform/Life Assurance), Old Mutual International, Intrinsic, Old Mutual Wealth Multi-Asset, Old Mutual Wealth Private Client Advisers and Old Mutual Wealth Financial Adviser School for the brands within Quilter.

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