Deutsche Bank asks banks to pitch for asset management IPO: sources

Deutsche Bank has asked banks to pitch for roles the planned 2 billion euro ($2.35 billion) initial public offering of its asset management business, two people close to the matter said on Tuesday.

The requests for proposal for roles such as that of the global coordinator were sent out on Monday, the sources said.

Banks are being asked to specify their concerns with the equity story of the asset management unit, their view on the peer group, valuation method, timing of the deal and potential investors.

Deutsche Bank declined to comment.

Deutsche Bank said in March that it planned to list the asset management unit, which could reach a total valuation of 8 billion euros. A stock market flotation of the unit is expected to take place in the first half of 2018 at the earliest.

($1 = 0.8505 euros)

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