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Thursday, March 08, 2018

A $2.5B Asset Manager IPO Nears

News summary by MFWire's editors

A multi-billion-dollar asset manager IPO may be just around the corner.

The initial public offering for DWS [profile] (formerly Deutsche Asset Management) is likely to take place the week of March 19, unnamed sources tell Reuters, and DWS chief Nicholas Moreau has been doing an IPO roadshow for four weeks. The news service adds that they expect an IPO share-price range announcement "as soon as Sunday", March 11, and a prospectus the day after.

Again citing unnamed sources, Reuters pegs the IPO's size at $1.9 billion to $2.5 billion for 25 percent of DWS' shares. That implies an overall valuation of $7.6 billion to $10 billion. DWS had about $840 billion in AUM as of September 30, 2017, so that valuation price range translates into between 0.9 percent and 1.2 percent of DWS' AUM.

The DWS IPO has officially been in the works for a year. Deutsche Bank confirmed its IPO plans last month.  

Edited by: Neil Anderson, Managing Editor


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