The IPOX® Watch - Quilter

Aug 3

Company Description

Originated in 1771, Quilter plc (previously Old Mutual Wealth Management Limited) is a full service, UK-focused wealth manager headquartered in London, United Kingdom. The Group's operations are divided into 'The Advice & Management' and 'The Wealth Platforms' segments. Quilter provides wealth management services, advice-led investment solutions, and investment platforms for affluent and high net worth clients, corporates, pension funds, trusts, and charities.

On 7/31/2022, it was reported that Natwest (NWG LN) is considering a bid for the company, resulting in Quilter’s share price rising as much as 18%.

Business Model

Quilter generates revenue primarily from management fee consists of revenue generated from assets under management and under administration. The company also generates revenue from fees such as early encashment charges and adviser initial fees.

IPO History

On 6/25/2018, Quilter plc began trading on the London Stock Exchange. The wealth management group set the offer price at 145.00 pence per share, above the mid-point of its expected price range (GBp125 - GBp155). The company offered 165.010,507 shares (all from selling shareholder Old Mutual plc). With the 10% overallotment option partially exercised, Quilter was valued at ca. £2.76 billion at offer. Quilter closed the first day at 177.33 pence (+22.30%). Quilter also has a secondary listing In Johannesburg Stock Exchange (QLT SJ). Quilter plc was included in the IPOX® 100 Europe Index (ETF: FPXE US, FPXE LN, EFPX IM) on 03/21/2022, and currently weighs ca. 0.05% of the portfolio.