Deutsche Bank 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.
