Old Mutual is reportedly planning to hold an initial public offering for its US asset management unit this year.
"This offering will broaden U.S. asset management’s access to capital to pursue future growth initiatives across its business," Bloomberg News quoted a statement issued by the company.
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Old Mutual has been considering an IPO for its US asset-management business since it slipped into losses in the wake of the 2008 global financial crisis.
Chief Executive Officer Julian Roberts said the IPO would only take place once the business was profitable and stable.
The announcement follows the group reporting profit of £980 million for the fiscal year through December, up 7.2% from £914 million a year ago.
The US asset management business of Old Mutual has funds under management of approximately US$257 billion.
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