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Report: Deutsche Bank asset management IPO draws interest from BlackRock, others

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Report: Deutsche Bank asset management IPO draws interest from BlackRock, others

The IPO of Deutsche Bank AG's DWS asset management division has attracted interest from U.S-giant BlackRock Inc., billionaire investor George Soros and major sovereign wealth funds, a "person familiar with the matter" told Reuters.

Singapore's Temasek and the Public Investment Fund of Saudi Arabia are among the sovereign wealth funds to have expressed interest in purchasing stakes in the offering of DWS, according to the source, who also noted that the asset management unit is seeking anchor investors, while looking to ensure the liquidity of free floating shares.

Chinese conglomerate HNA Group Co. Ltd. and the Qatari royal family, which are Deutsche Bank's largest shareholders, are not expected to invest in the DWS IPO, the source added.

In February, the German lender disclosed its intention to proceed with the listing of DWS on the Frankfurt Stock Exchange "in the earliest available window, subject to market conditions." The bank is putting the final touches on the offering, according to the source.

Deutsche Bank could set a price range on the offering as early as March 11, with a prospectus to be filed the next day and the listing launching in the week of March 19, Reuters added. Sources have indicated that Deutsche Bank will float a quarter of DWS for between €1.5 billion and €2 billion.