×

Deutsche Bank to launch DWS IPO next week - sources

FRANKFURT, Feb 20 (Reuters) - Deutsche Bank plans to launch the initial public offering (IPO) of its asset management arm DWS on Monday next week, following on the heels of Siemens' blockbuster Healthineers listing, sources close to the matter said.

They said the listing of DWS on the Frankfurt stock exchange would likely take place in the week starting March 19.

German flagship lender Deutsche Bank is planning to offer 25 percent of DWS' existing shares for an expected 1.5 to 2 billion euros ($1.85-2.47 billion), the people said, adding no new shares would be sold as part of the offering.

"Transaction security is more important for Deutsche Bank than price," one of the people said.

To maximize investor attention, the debut will take place before Holy Week, the week before the Easter holidays, as some investors are expected to be away then, another source said.

Deutsche Bank declined. ($1 = 0.8107 euros) (Editing by Maria Sheahan)