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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.

Prudential said on Wednesday that it was evaluating a potential listing of ICICI Prudential Asset Management, its joint venture with Indian financial services group ICICI Bank.

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

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

Prudential had divested its stake in ICICI Prudential Life Insurance Company, another joint venture firm with the ICICI Bank group

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.