Dealing has begun today in shares of Ninety One plc and Ninety One Limited, the new name for Investec Asset Management following its float in London and Johannesburg.

Due to stock market turmoil Investec Asset Management has dropped the global offer of 10% of its shares when it floats next week.

Ninety One plc and Ninety One Limited, the new names for Investec Asset Management, will float with a stock market valuation estimated at between £1.7bn and £2.2bn.

Investec Asset Management is to float on the London and Johannesburg Stock Exchanges in March with staff set to own 20% of shares.