Gems Picks Jp Morgan, Credit Suisse And Bank Of America For $5 Bln Ipo: sources
04/12/2017 10:45
By Dasha Afanasieva
LONDON, Dec 4 (Reuters) - GEMS Education's owners have
chosen JP Morgan JPM.N , Credit Suisse CSGN.S and Bank of
America Merrill Lynch BAC.N to lead the international private
schools group's initial public offering (IPO), two sources
familiar with the matter said.
GEMS, which operates more than 250 schools across 14
countries, could have a market capitalisation of around $4.5-$5
billion in a London listing which is expected to take place in
2018, the sources said.
Backed by Dubai-based Fajr Capital, Bahraini state
investment fund Mumtalakat and investment firm Blackstone
BX.N , GEMs said on Monday it had secured a $1.25 billion loan
to refinance existing borrowings and support growth. urn:newsml:reuters.com:*:nL8N1O411B
JP Morgan declined to comment, while the other banks chosen
as joint global coordinators did not immediately respond to
requests for comment.
(Reporting by Dasha Afanasieva; editing by Alexander Smith)
((dasha.afanasieva@tr.com; +44)(0)(20 7542 0214;))
Keywords: GEMS IPO/MANDATE