AMP announce NZ wealth IPO
AMP will float off its New Zealand wealth management business.
The company announced that it intended to divest the New Zealand wealth management and advice business via an initial public offering (IPO) next year.
It said the decision to proceed with an IPO and its timing remained subject to market conditions and regulatory approvals.
The announcement said the businesses had financial year 2018 pro forma operating earnings of approximately $40 million on a standalone basis.
It said the IPO would release capital to AMP and create a standalone New Zealand wealth management and advice business.
Recommended for you
While crypto continues to gain traction among investors globally, improving accessibility for financial advisers is key to helping them serve the demand from younger clients, but there are some barriers still hindering adoption.
Investment platform Praemium has reported strong 2024–25 financial year results, with large increases across a range of business metrics, which it credits to the firm’s strategy and high-net-worth focus.
Alternative investment manager Regal Partners has set a target of doubling its offshore funds under management within three years amid strong inflows from offshore investors in the first half of 2025.
Fitzpatricks Advice Partners has formed a strategic alliance with two chapters of a global business support and networking organisation, expanding its offering for the firm’s advisers.
