March 14, 2018 / 3:26 PM / 10 months ago

DWS IPO books covered on full deal size: bookrunner

Flags with the logo of Deutsche Bank are seen at the headquarters ahead of the bank's annual general meeting in Frankfurt, Germany May 18, 2017. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) - Deutsche Bank (DBKGn.DE) has attracted demand for all shares on offer in the initial public offering of its asset management unit DWS, one of the bookrunners leading the transaction said on Wednesday.

The bookbuilding started on Wednesday and will run until March 22, with the stock slated to start trading on the Frankfurt Stock Exchange on March 23. Books generally need to be at least covered twice for any IPO to go through smoothly.

Deutsche Bank set the price range for the planned IPO of DWS at 30 to 36 euros a share, valuing the division at 6-7.2 billion euros ($7.4-8.9 billion).

($1 = 0.8094 euros)

Reporting by Arno Schuetze; Editing by Maria Sheahan

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