Live Markets »News & Advice»IPO News»IPO News Details
IPO News Details
Back

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.

Related Stories

    No Related Stories Found
Widgets Magazine


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.

 

Widgets Magazine

Sensex

Company Price Gain (%)
Kotak Mah. Bank1,021.902.13
Hind. Unilever1,333.001.37
O N G C184.951.09
TCS2,639.000.95
HDFC Bank1,840.000.87

Poll

Currently No Poll Available.

Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine