(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.

BRITISH insurer Prudential is evaluating a potential listing of its Indian joint venture, ICICI Prudential Asset Management, which will involve the partial sale of its shares. Read more at The Business Times.

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.

Prudential is considering taking its Indian joint venture business public to help fund returns to shareholders.

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

Prudential plc considers listing ICICI Prudential AMC in India, with net proceeds to be returned to shareholders.