FRANKFURT (dpa-AFX) - Deutsche Bank reportedly plans to launch the initial public offering of its asset-management unit DWS on Monday next week.
According to Reuters, the German banking giant could list the unit as early as the week of March 19 and offer around 25% of DWS's existing shares. The IPO is expected to generate between around 1.5 billion and 2 billion euros in proceeds. DWS would be listed on the Frankfurt stock exchange.
'Transaction security is more important for Deutsche Bank than price', one of the people said, according to the report.
In December, the German lender said it re-branded its asset management unit globally as DWS. The bank also announced that it intends to put a structure in place that gives the lender full control even after the unit's planned stock market listing.
Earlier in 2017, Deutsche Bank had announced plans to list a minority stake in DWS.
The planned new corporate structure will give minority shareholders limited influence over the company irrespective of the size of their equity stake in the unit.
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