Goldman, Nomura Said to Be Selected for Nikko Asset’s IPO

Goldman Sachs Group Inc. and Nomura Holdings Inc. were among four banks chosen to manage Nikko Asset Management Co.’s initial public offering, said three people with knowledge of the proposed sale.

Nikko Asset and its largest shareholder, Sumitomo Trust & Banking Co., may sell about 50 billion yen ($645 million) of shares in the IPO, said the people, declining to be identified before a public announcement. The asset manager plans to list on the Tokyo Stock Exchange as early as this year and targets a market value of about 200 billion yen, they said.