Nikko Asset Management will likely be listed on the Tokyo Stock Exchange's first section as early as mid-December, the Nikkei business daily said on Sunday without citing sources.
The firm's main shareholder, Japan's Sumitomo Trust and Banking Co, will sell about 30 percent of its stake in the firm with the selling price expected to be 50 billion yen, which would make it the second-largest initial public offering this year, said the paper.
The market capitalisation of Nikko AM, one of Japan's largest asset management firms, after going public would likely reach between 160 to 170 billion yen, added the paper.