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(Reuters) -British insurer Prudential is considering listing its Indian joint venture ICICI Prudential Asset Management, it said on Wednesday. Prudential's London-listed shares soared more than 8%, buoyed by plans that would involve the company divesting some of its 49% stake in the Indian asset manager and returning the proceeds to shareholders.

The listing of its joint venture with ICICI Bank will involve the partial divestment of its shares, and is subject to market conditions, requisite approvals and other considerations, Prudential Plc said.

ICICI Prudential AMC had assets under management of Rs 8,67,000 crore and 1.1 crore-plus investors across 133 schemes

The net proceeds will be returned to shareholders if followed through. Prudential announced that it is assessing a possible listing of ICICI Prudential Asset Management Company Limited, which would involve a partial divestment of its shares.