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Deutsche Bank to Raise Up to $2.2 Billion in DWS Unit IPO

  • Bank to sell as much as 25% stake in asset-management unit
  • Japan’s Nippon Life Insurance strategic investor with 5% stake
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Deutsche Bank Plans to Raise Up to $2.2B in DWS Unit IPO

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Deutsche Bank AG plans to raise as much as 1.8 billion euros ($2.2 billion) in an initial public offering of its asset-management unit, a key pillar of the German lender’s turnaround strategy.

The offering values the asset manager at as much as 7.2 billion euros, a valuation that would align it with its bigger peer Amundi SA. Nippon Life Insurance Co. agreed to acquire a 5 percent stake in DWS in the IPO at the issue price that will be set between 30 euros to 36 euros a share, Deutsche Bank said in a statement late on Sunday.