Investec is the Evolution suitor

Click to follow
The Independent Online

South African banking giant Investec was yesterday unveiled as the mystery suitor for Evolution Group, the UK stockbroker. The firm revealed on Wednesday it had received a preliminary approach, but declined to name the party, sending the broker's shares up by 8.5 per cent.

Yesterday, the shares edged up a further 0.31 per cent, giving the group a market capitalisation of just under £200m.

Evolution has cautioned that there is no certainty that a sale will be agreed.