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BUZZ-OM Asset Management Plc: Shares dip as Old Mutual exits

** OM Asset Management (Frankfurt: 8OM.F - news) shares down ~3 pct in light volume premarket as Old Mutual Plc (Other OTC: ODMUF - news) heads to the exits

** Secondary offering of 6.03 mln shares announced after the bell on Tues

** Morgan Stanley (Xetra: 885836 - news) bought the shares and re-offering them in range of $15.60-$15.80, about a 1-2 pct discount to OMAM's last sale

** Offering leaves Old Mutual with just 1,000 OMAM shares

** On Mon, Old Mutual closed on sale of the second of two tranches of OMAM shares to acquisitive Chinese conglomerate HNA (Shanghai: 600221.SS - news) Group; in the end, Old Mutual offloaded a 24.5 pct stake to HNA

** Old Mutual, which plans to break itself up into four parts by end of 2018, has been reducing its stake in OMAM as part of its winding down process

** OM Asset Management's stock has risen 10 pct in 2017