Investec, the UK-South African banking group that is de-merging and listing its asset management business, Ninety One, has cancelled the public share offer that was due to be part of the IPO thanks to the virus panic sweeping the stock market.

In a statement on 12 March, the company said that “in light of the recent volatile market conditions” it has “decided not to pursue the global offer of approximately 10% of the combined total issued share capital of Ninety One”.