Aberdeen Standard Investments announced plans to reduce its stake in Standard Life by approximately half, marking a significant shift less than a decade after the two firms merged. The asset manager intends to trim its holding to about 5.2% through a secondary placing, which will value Standard Life shares at £8.39 each and is expected to raise around £436 million.

Following the announcement, Standard Life’s shares dropped nearly 5%, closing at 828 pence, while Aberdeen’s shares edged up 0.6% to 236 pence.

The decision comes amid a period of renewed momentum for Aberdeen, which has seen growth driven in part by its acquisition and integration of the investment platform Interactive Investor. Since becoming part of Aberdeen, Interactive Investor has experienced steady net inflows and set multiple record highs. In the first half of the year, the platform reported net inflows totaling £6.8 billion and expanded its customer base by 14%.

Market analysts view Aberdeen’s resurgence as closely tied to the success of Interactive Investor, positioning the firm well despite the reduction in its holding of Standard Life. The sale is part of Aberdeen’s broader strategy to streamline its portfolio and focus on its evolving investment platform business.