Affin Bank weighs asset management unit listing

Affin Bank owns 63% of Affin Hwang Asset Management, according to its 2019 annual report. The investment manager also counts Japan’s Nikko Asset Management International Ltd as a shareholder, the website of an affiliated unit shows.

KUALA LUMPUR: Affin Bank Bhd is considering an initial public offering (IPO) of its asset management unit that could raise about RM500mil, people familiar with the matter said.

The lender is working with advisers on the potential listing for Affin Hwang Asset Management Bhd in Kuala Lumpur as soon as the second half of next year, the people said, asking not to be identified as the matter is private.