UK financial services giant Aviva is continuing to bankroll its Asian expansion ambitions with plans to float a chunk of its holdings in Dutch subsidiary Delta Lloyd NV.

Aviva will offer institutional and retail investors 42% of the company, a move which will generate €1.2 billion ($1.9 billion) and allow it to retain 53% of voting rights.

Trading in the shares is expected to begin on November 3.

The float follows Aviva’s sale of its Australian life and pensions business and wealth management platform to the National Australia Bank for $825 million.

Announcing the Australian deal in June, Aviva said it supported a strategy of focusing on the key growth markets in Asia “where leading positions can be achieved”.

More recently, the insurer has been reported in the US financial press as looking to expand its life operations in China and possibly re-establishing a general insurance business in Asia next year.