Sections

DWS lists on Frankfurt Stock Exchange for €6.5bn

Related Categories

Under its new global umbrella brand DWS, Deutsche Asset Management is now a (partially) listed company.

Its shares started trading on the Frankfurt Stock Exchange this morning.

The first price per share was €32.55, giving the asset manager a market capitalisation of around €6.5bn. The placement price was €32.50 per share. The price range for the share offering had been between €30 and €36 per share.

The initial public offering (IPO) was oversubscribed, with 44,500,000 shares placed in total. Retail investors that placed orders with syndicate banks were allocated around 5.3% of the total placement volume.

Deutsche Bank remains DWS’s majority shareholder. Japan’s Nippon Life Insurance Company previously agreed to acquire a 5% stake in DWS at the IPO price.

Nicolas Moreau, CEO of DWS, said: “The listing is an important milestone in the history of DWS that makes us very proud. We are very satisfied with the demand for our shares and we now want to capitalise on that tailwind.”

Moreau and DWS chief financial officer Claire Peel jointly rang the stock exchange bell on the trading floor this morning.  

DWS is the subject of Strategically Speaking in IPE’s March magazine 

Related images

  • image1

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2498

    Asset class: Fixed Income Investment Grade.
    Asset region: Global Developed Markets.
    Size: $50m.
    Closing date: 2019-01-07.

  • DS-2499

    Closing date: 2019-01-02.

Begin Your Search Here