UK's Prudential mulls listing India's ICICI Prudential Asset Management
(Reuters) - British insurer Prudential said on Wednesday it was evaluating the potential listing of ICICI Prudential Asset Management Company, its joint venture in India, involving a partial divestment of its shares.
Prudential holds a 49% stake in ICICI Prudential Asset Management, and India's ICICI Bank Ltd holds the rest.
The potential listing is subject to market conditions and approvals, Prudential said, without disclosing where is it planning to list the company.
"It is intended that following the completion of such a divestment, the net proceeds would be returned to shareholders," Prudential said.
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