British insurance firm Aviva on Monday confirmed plans for a listing and initial public offering of its Dutch subsidiary, Delta Lloyd, on the Amsterdam stock market.
According to media reports the company hopes to raise about £1bn (around €1.1bn) from what the Financial Times says is the biggest initial public offering in Europe for at least 18 months.
In a statement Aviva said it expects to publish the prospectus for the offering in October and have the IPO completed in November.
Aviva has a 92% stake in Delta Lloyd and according to the FT, it is planning to sell off at least 30% of the Dutch company although it will remain its majority shareholder.
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