February 26, 2018 / 6:38 AM / 21 days ago

Deutsche Bank announces listing of asset management arm DWS

FRANKFURT, Feb 26 (Reuters) - Deutsche Bank is planning to list its asset-management arm DWS on the Frankfurt stock exchange, it said on Monday.

Germany’s flagship lender did not specify a date for the listing. Sources close to the matter said last week that the initial public offering will likely take place in the week of March 19.

The bank is expected to sell 25 percent of existing DWS shares for 1.5 billion to 2 billion euros ($1.9 billion to $2.5 billion), the sources had said.

Deutsche Bank announced in March 2017 that it would list a minority stake in its asset-management arm as part of a broader overhaul following costly lawsuits and trading scandals. ($1 = 0.8114 euros) (Reporting by Arno Schuetze; Editing by Christoph Steitz)

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