Deutsche Bank has said said the share pricing for the coming partial float of its asset management unit values the business at €6bn to €7.2bn and announced a “cornerstone” investor in the offering, Japan’s Nippon Life Insurance.

Deutsche Bank said it would sell 20% of the unit, DWS Group, in an offering range of €30 to €36 a share. The first day of trading will be March 23 on the Frankfurt Stock Exchange, the German lender said in a statement.