Offering price for partial float of fund management business is toward lower end of range

Senior European Correspondent, Enterprise

 said on Thursday it expects to receive about €1.4bn ($1.7bn) from selling a minority stake in its asset-management business, DWS Group, after pricing shares toward the lower end of a range announced earlier this month.

The lender placed 44.5 million shares at €32.50 a share, valuing the business at €6.5bn. It had announced an offering range of €30 to €36 a share on March 11. Shares will start trading Friday in Frankfurt under the German securities code DWS100.

Deutsche Bank prices DWS listing at €32.50 a share

Deutsche Bank prices shares of DWS, unit valued at €6.5bn

Jenny Strasburg

Deutsche Bank

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