Ninety One PLC expects to have market capitalisation of £1.75-2.2bn when it demerges from Investec PLC (LON:INVP) and floats in London and Johannesburg later this month.
The asset manager on Monday confirmed its expected offer price of 190-235p per share.
Investec will raise between £182mln and £226mln from the offer, with Ninety One not receiving any proceeds.
With a free float of 60-65% when the shares begin trading on 16 March, with roughly 15% of the shares retained by Investec, around 55% held by Investec ordinary shareholders in London and South Africa, and close to 20% held by employees in a vehicle called Forty Two Point Two.
Investec's asset management arm had roughly £121bn in assets under management as of 30 September after net inflows of £3.2bn in the preceding six months, making an operating profit before exceptional items of £97.3mln in the half-year period.