Amundi launches €2bn IPO in France

33.4m shares available

Asset management firm Amundi has announced it hopes to raise up to €2bn when it floats on the French stock market later this month.

The firm, which is owned by Société Générale and Credit Agricole and has €952bn in assets under management, has an indicative price range between €42 and €52.50 per share for the 33.4m shares being issues globally. Under the shareholders agreement, SocGen plans to sell its entire 20% holding in Amundi, equivalent to 33.4m shares. However, it will remain a key distributor of Amundi products for the next five years.  This will leave Credit Agricole as the majority shareholder with a stake of between 74.6% and 77.6%. Amundi brings global multi-asset strategy to retail investors  Th...