Prudential Is Said to Hire Citigroup for $1 Billion India IPO
- Other banks likely to come aboard for the potential share sale
- Preparations for asset management unit listing at early stage
This article is for subscribers only.
Prudential Plc has hired Citigroup Inc. to help work on a potential initial public offering of Indian unit ICICI Prudential Asset Management Co., according to people familiar with the subject.
A listing could raise about $1 billion, the people said, asking not to be identified because the matter is private. Preparations are preliminary and details could change, the people said, adding that other banks are likely to join.