Deutsche Bank: sets price range for DWS IPO
(CercleFinance.com) - Deutsche Bank has set a price range for the planned IPO of its asset management unit DWS Group.
The German bank plans to sell 40 million existing ordinary shares at between 30 euros and 36 euros, according to a press release on Monday.
This corresponds to 20 percent of DWS' existing share capital.
In addition, the transaction includes an upsize option on 4.8 million shares (2.4% of its capital), as well as a greenshoe option of up to 5.2 million shares (2.6% of the capital).
Deutsche Bank said that the Japanese insurer Nippon Life has agreed to acquire a 5% stake in DWS at the IPO issue price.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The German bank plans to sell 40 million existing ordinary shares at between 30 euros and 36 euros, according to a press release on Monday.
This corresponds to 20 percent of DWS' existing share capital.
In addition, the transaction includes an upsize option on 4.8 million shares (2.4% of its capital), as well as a greenshoe option of up to 5.2 million shares (2.6% of the capital).
Deutsche Bank said that the Japanese insurer Nippon Life has agreed to acquire a 5% stake in DWS at the IPO issue price.
Copyright (c) 2018 CercleFinance.com. All rights reserved.