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Emirates Global said to pick BofA, Goldman for IPO

Ruth David & Dinesh Nair / London 28 Mar 17 | 04:53 AM

Emirates Global Aluminium, the largest aluminum producer in the West Asia, has selected advisers for an initial public offering that could raise about $3 billion, according to people familiar with the matter.


The United Arab Emirates-based company is working with Bank of America Corp., Goldman Sachs Group Inc. and JPMorgan Chase & Co on the share sale, said the people, who asked not to be named as the details aren’t public. Aside from a local listing, EGA could also seek a presence on an overseas stock exchange like London, though no final decisions have been made, the people said.

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EGA, which is jointly owned by Abu Dhabi’s sovereign fund Mubadala Investment Co. and the Investment Corp. of Dubai, is planning to sell shares at a time when commodity prices have rebounded, attracting investors to the sector once again. If the aluminum producer raises $3 billion, it would be the largest-ever IPO from the UAE, according to data compiled by Bloomberg, surpassing the 2014 stock sale by Emaar Malls PJSC.

 

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4 Replies

Comments

    22 Apr 17 at 11:58 AM
By: Mariya Solenki

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    20 Apr 17 at 11:09 AM
By: renee betrand

Not the right time for EGA, for such rush measures with selling shares. Previous times it worked out, but nobedy can predict if this time investors will be attracted to the sector due to commodity prices. That is not the main criteria that can attract investors today. Priorities have changed. EGA need to think of any other UK dissertation writing, but not shares.

    07 Apr 17 at 12:37 PM
By: lionel

It will be a nice decision from the company to catch the attraction of the investors. There will be more competition in the field during the coming years and this kind of strategies will make them get a clear spot on the sector. buy home depot gift card

    28 Mar 17 at 01:20 PM
By: Jason Wilson

Not the right time for EGA, for such rush measures with selling shares. Previous times it worked out, but nobedy can predict if this time investors will be attracted to the sector due to commodity prices. That is not the main criteria that can attract investors today. Priorities have changed. EGA need to think of any other assignments for sale, but not shares.



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