According to the Wall Street Journal, the flotation is likely to be the second-largest initial public offering in Japan this year, and is estimated at up to $623m.
The announcement follows Nikko’s acquisition of Singapore’s DBS Asset Management (later rebranded Nikko Asset Management Asia) in September. As International Adviser reported, the deal allowed Nikko to distribute its products through DBS’s regional network of offices.
Soon after, Nikko appointed Eleanor Seet as president and executive director of Nikko Asset Management Asia, “to lead the firm in the next phase of its growth plan” in the region.
The Tokyo Stock Exchange today confirmed Nikko Asset Management’s intention to float on 15 December, but said it was undecided on which section to list the firm’s shares.