The Rothschild family is seeking to take its Paris-listed investment bank private, Rothschild & Co said on Monday, sending the shares up by close to 17%.

Concordia, the family-owned holding and Rothschild & Co's largest shareholder, is poised to file a tender offer for the investment bank's shares at 48 euros each, Rothschild said in a statement.

The take-private plan will be submitted to shareholders on May 25, the investment bank said.

Rothschild & Co posted revenues of 2.2 billion euros for the first nine months of 2022, with gains across all business lines from deal advisory to wealth and asset management, as per its latest earnings report.

However, the group warned of a "more challenging year" ahead, with lower deal activity and declining assets under management impacting fee income.

The Rothschild family owns about 55% of the company's shares, according to Refinitiv. (Reporting by Mathieu Rosemain Additional reporting by Pablo Mayo Cerqueiro, editing by Silvia Aloisi)