Prudential Seeks $12 Billion ICICI Prudential Asset Management IPO Valuation

Prudential Plc is said to be weighing around a $12 billion valuation of its Indian joint venture, ICICI Prudential Asset Management, in what could be its initial public offering (IPO). This comes after Prudential had indicated consideration of the partial sale of its stake in the asset manager company. The planned IPO, potentially one of India's biggest in several years, is a part of Prudential's drive to take advantage of India's expanding market while returning funds to investors. The majority control by ICICI Bank in the joint venture is likely to remain unchanged after listing. The high valuation mirrors the strong growth and potential of India's asset management industry.
Source: Bloomberg News