BT Investment Management (BTIM) has today lodged the prospectus for its initial public offer with the Australian Securities and Investments Commission and expects to be listed on the ASX by December.
Westpac Group will retain a 60 per cent stake in BTIM, which is the eighth largest funds management business in Australia, boasting $42 billion under management.
Eligible Westpac shareholders, BTIM employees and selected institutional investors will be the only investors to be offered shares in BTIM.
