Abu Dhabi’s Senaat Said to Hire HSBC, JPMorgan for Share Sale - Bloomberg

Abu Dhabi’s Senaat Said to Hire HSBC, JPMorgan for Share Sale - Bloomberg:

"Abu Dhabi holding group Senaat, which owns companies including National Petroleum Construction Co., hired HSBC Holdings Plc (HSBA) and JPMorgan Chase & Co. (JPM) for a share sale, two people familiar with the matter said.
The company appointed the banks as joint book runners for an initial public offering this year, the people said, declining to be identified because the matter isn’t public. Senaat Chief Financial Officer Jassem Saleh Busaibe declined to comment, as did a spokesman for HSBC. Calls to JPMorgan’s media office in London outside of office hours weren’t immediately answered.
Senaat is among United Arab Emirates’ companies planning share sales after stock values surged. Abu Dhabi’s benchmark ADX General Index gained 45 percent this year, while the government forecasts average economic growth of 4.6 percent between 2012 and 2015, more than twice as fast as the previous four years."

'via Blog this'