Advertisement
UK markets close in 53 minutes

  • FTSE 100

    8,363.10
    +49.43 (+0.59%)
     

  • FTSE 250

    20,431.08
    +18.00 (+0.09%)
     

  • AIM

    778.48
    +2.06 (+0.27%)
     

  • GBP/EUR

    1.1619
    -0.0005 (-0.05%)
     

  • GBP/USD

    1.2489
    -0.0020 (-0.16%)
     

  • Bitcoin GBP

    50,005.08
    -592.32 (-1.17%)
     

  • CMC Crypto 200

    1,325.70
    +31.02 (+2.40%)
     

  • S&P 500

    5,182.92
    -4.78 (-0.09%)
     

  • DOW

    38,896.67
    +12.41 (+0.03%)
     

  • CRUDE OIL

    78.03
    -0.35 (-0.45%)
     

  • GOLD FUTURES

    2,324.20
    0.00 (0.00%)
     

  • NIKKEI 225

    38,202.37
    -632.73 (-1.63%)
     

  • HANG SENG

    18,313.86
    -165.51 (-0.90%)
     

  • DAX

    18,478.17
    +48.12 (+0.26%)
     

  • CAC 40

    8,152.19
    +76.51 (+0.95%)
     
Money:

How to make a tax-free income

Tips for making money that won't be taxed

Deutsche Bank picks asset-management IPO bookrunners -source

Reuters - UK Focus

FRANKFURT, Nov 11 (Reuters) - Deutsche Bank (IOB: 0H7D.IL - news) has selected Barclays (LSE: BARC.L - news) , Citigroup (NYSE: C - news) and Credit Suisse (IOB: 0QP5.IL - news) as senior bookrunners for the initial public offering (IPO) of its asset-management arm, a source familiar with the matter told Reuters on Saturday (Shenzhen: 002291.SZ - news) .

A spokesman for Deutsche Asset Management declined to comment on the selection of bookrunners, which was first reported on Friday by Bloomberg.

Deutsche Bank, which will be the main bookrunner, said in March it planned to list the asset management arm, which could achieve a total valuation of around 8 billion euros ($9 billion), within two years as part of an overhaul following costly lawsuits and trading scandals.

It is expected to raise about 2 billion euros from listing about a quarter of the business.

ADVERTISEMENT

The junior bookrunners helping to market the IPO to investors will be BNP Paribas (LSE: 0HB5.L - news) , Unicredit (EUREX: DE000A163206.EX - news) , UBS (LSE: 0QNR.L - news) , Morgan Stanley (Xetra: 885836 - news) and ING.

"The decision in favour of these banks has already been taken," the person said. ($1 = 0.8574 euros) (Reporting by Andreas Framke; Editing by Georgina Prodhan and Alexander Smith)