AMP puts off listing
It announced the sale of its life insurance and mature business to Resolution Life last year and stopped selling AMP life insurance to new customers on January 1.
As part of that, it was revealed that AMP planned to list its New Zealand wealth arm, including KiwiSaver, on the stock exchange.
Now New Zealand managing director Blair Vernon said, given its focus on separating off the life business, the IPO would be deferred until that process was finished.
“The separation will establish AMP New Zealand’s wealth management business as a standalone business unit with a mandate to accelerate business growth.
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