Old Mutual said its board had approved the migration after concluding that the VFEX had developed sufficient scale and liquidity to serve as a viable alternative market. The company said the move would restore normal trading access while allowing shareholders to continue receiving dividends and benefiting from the value of their investment.
OLD Mutual Group reported its highest profit since 2019, buoyed by rising demand for its short-term insurance and wealth management products at home in South Africa.
The Johannesburg-based company’s adjusted headline earnings rose 14% to to R6.69 billion ($370 million). That exceeded the R6.6 billion-forecast by six analysts in a Bloomberg survey.
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