HALISTER: Deutsche Asset Management Listing Possible in September: BZ

Deutsche Asset Management Listing Possible in September: BZ

(Bloomberg) -- Preparations for partial listing of fund business so advanced that it should be possible in September as soon as mid-year prospectus is completed, Boersen-Zeitung reports, without saying where it got information.
  • Analysts appraise value Deutsche AM at EU4.9b-EU8b, depending on whether assets under management or adjusted profit are used as key denominator to set enterprise value
  • Industry standard for AuM is factor of 0.7 to 1.4, for profit-multiple margin is 5-10
  • 20-25% of Deutsche AM likely to be traded
  • Possible that in addition to public offering, there may be a private placement with strategic partner
  • NOTE: April 12, Sal. Oppenheim to Move Capital Mkts Unit to Deutsche Bank: FAZ NSN OOBF7R6VDKHS

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
DBK GR (Deutsche Bank AG)

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