India’s second-largest private bank, ICICI Bank Ltd, announced on Wednesday, February 12, that its UK-based joint venture partner, Prudential Plc, is evaluating the potential listing of the asset management arm, ICICI Prudential Asset Management Company Limited, as per the BSE filing.
According to the exchange filing, Prudential Plc will partially divest (sell off) its ICICI Prudential Asset Management shares, subject to the market conditions, approvals and considerations imposed.
“It is intended that following the completion of such a divestment, the net proceeds would be returned to shareholders. We will provide a further update at an appropriate time,” said the UK-based insurer in the statement.
