Monday 26 March 2018 9:27 am
Deutsche Bank has confirmed the €2bn IPO of its asset management arm
Shares in Deutsche Bank edged higher this morning after it confirmed it will float a minority stake in DWS, its massive asset management arm, next month. It is thought the lender will list a 25 per cent stake in DWS, which has €700bn (£614bn) under management, in two weeks’ time. Deutsche is expected to raise €2bn from the listing. In an intention to float document published this morning, it added it will not issue new shares in DWS, which is Germany’s largest asset manager with €513bn in active assets, €71bn in alternatives and €115bn in passive assets. It is also Europe’s second-largest provider of exchange traded funds, and had net inflows of €16bn in 2017. “We are convinced that the planned IPO will act as a catalyst to support our strategy and deliver shareholder value,” said Nicolas Moreau, chief executive of DWS.