Commonwealth Bank of Australia considers First State IPO amid strategic review
Currently owned by the Bank
The Commonwealth Bank of Australia has initiated a strategic review of Colonial First State Global Asset Management, known outside of Australia as First State Investments, with an IPO being considered as a potential option.
The business is a global investment management franchise with AU$219bn in assets under management and is currently under the Commonwealth Bank's ownership.
The strategic review will consider a range of options, with an IPO being just one potential path of action, the bank has said.
The bank will also consider the long-term value for its shareholders, including whether a separately listed firm would be better able to grow its business, serve the interests of its clients and attract and retain key personnel.
About the author
Anna is news editor at Investment Week, having joined the title in January 2013. She covers the ETF beat and is responsible for the regular podcast series.
Prior to this role, she worked at Investment Europe covering European investment markets. She began her journalism career at Euromoney Institutional Investor in 2011.
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