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.
Purchased for undisclosed sum
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