Affin Bank weighs IPO of asset management unit

Kuala Lumpur

AFFIN Bank is considering an initial public offering of its asset management unit that could raise about RM500 million (S$164 million), people familiar with the matter said.

The Malaysian lender is working with advisers on the potential listing for Affin Hwang Asset Management 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.