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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Barclays    BARC   GB0031348658

BARCLAYS (BARC)
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Deutsche Bank picks asset-management IPO bookrunners -source

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11/11/2017 | 04:49pm CEST
FILE PHOTO : Logos of Deutsche Bank AG are seen in Tokyo

FRANKFURT (Reuters) - Deutsche Bank (>> Deutsche Bank) has selected Barclays , Citigroup (>> Citigroup) and Credit Suisse as senior bookrunners for the initial public offering (IPO) of its asset-management arm, a source familiar with the matter told Reuters on Saturday.

FRANKFURT (Reuters) - Deutsche Bank (>> Deutsche Bank) has selected Barclays <BARC.>, Citigroup (>> Citigroup) and Credit Suisse <CSGN.> as senior bookrunners for the initial public offering (IPO) of its asset-management arm, a source familiar with the matter told Reuters on Saturday.

A spokesman for Deutsche Asset Management declined to comment on the selection of bookrunners, which was first reported on Friday by Bloomberg.

Deutsche Bank, which will be the main bookrunner, said in March it planned to list the asset management arm, which could achieve a total valuation of around 8 billion euros (7.07 billion pounds), within two years as part of an overhaul following costly lawsuits and trading scandals.

It is expected to raise about 2 billion euros from listing about a quarter of the business.

The junior bookrunners helping to market the IPO to investors will be BNP Paribas (>> BNP Paribas), Unicredit (>> UniCredit SpA), UBS (>> UBS Group), Morgan Stanley (>> Morgan Stanley) and ING (>> ING Groep).

"The decision in favour of these banks has already been taken," the person said.

(Reporting by Andreas Framke; Editing by Georgina Prodhan and Alexander Smith)

Stocks mentioned in the article
ChangeLast1st jan.
BARCLAYS -0.29% 162.9036 Delayed Quote.-19.57%
BNP PARIBAS -0.12% 49.485 Real-time Quote.-20.48%
CITIGROUP -0.90% 69.21 Delayed Quote.-6.99%
CREDIT SUISSE GROUP 0.71% 13.445 Delayed Quote.-23.25%
DEUTSCHE BANK 1.39% 9.655 Delayed Quote.-40.05%
ING GROEP 0.35% 10.842 Delayed Quote.-29.54%
MORGAN STANLEY 0.09% 43.47 Delayed Quote.-17.15%
UBS GROUP 0.18% 14.095 Delayed Quote.-21.60%
UNICREDIT SPA 0.03% 11.918 End-of-day quote.-23.49%
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Financials (GBP)
Sales 2018 21 373 M
EBIT 2018 6 037 M
Net income 2018 1 627 M
Debt 2018 -
Yield 2018 4,00%
P/E ratio 2018 15,85
P/E ratio 2019 7,42
Capi. / Sales 2018 1,31x
Capi. / Sales 2019 1,25x
Capitalization 27 978 M
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Number of Analysts 21
Average target price 2,25  GBP
Spread / Average Target 38%
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NameTitle
James Edward Staley Group Chief Executive Officer & Director
John McFarlane Group Chairman
Paul Compton Group Chief Operating Officer
Tushar Morzaria Group Finance Director & Executive Director
John Stecher Chief Innovation Officer
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