Deutsche Bank to list €700bn asset management arm
Deutsche Bank has confirmed its plans to list its DWS asset management unit on the Frankfurt stock exchange.
Deutsche Bank AG
€17.02
17:30 06/01/25
DJ EURO STOXX 50
4,871.45
23:59 03/01/25
Xetra DAX
20,216.19
17:00 06/01/25
Seeking to take advantage of favorable market conditions, Deutsche Bank decided to bring forward the DWS flotation by several weeks.
No date has been officially confirmed for the listing of the €700bn worth assets but sources close to the company said it would likely happen on 19 March, according to Citywire.
The bank is expected to sell 25% of existing DWS shares for €1.5bn to €2bn (£1,3bn to £1.7bn), the sources said. No official price average or estimated schedules were revealed as part of the IPO announcement.
Deutsche Bank said in a statement it would hope to fund growth of between 3-5% and a fee margin of 30 basis points.
DWS has assumed the legal structure of a partnership limited by shares. This means the bank can keep control even if the shareholding falls below the 75% that is needed to dominate German stock corporations.
The business is looking for ways to bolster areas such as structured credit and real estate asset management.
"The planned IPO will give us the opportunity to unlock the full potential of DWS for clients and employees, while targeting attractive returns for our shareholders," DWS chief executive Nicolas Moreau said in a statement.