November 21, 2011

Nikko Asset To Go Public

Nikko Asset Management Co., Ltd., a Tokyo-based asset management company with AUM of $154 billion, announced that Nikko Asset list its shares through a 45.5 billion yen ($590 million) initial public offering on the Tokyo Stock Exchange on December 15. This is the second largest IPO deal next to Nexon. Sumitomo Mitsui Trust Holdings, which acquired Nikko Asset from Citigroup in 2009 and now owns 91.3%, will offload part of its shareholdings. Nikko Asset recently bought Singapore's DBS Asset Management and Australian firm Tyndall Investment plans to be a major Asian asset management company.

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