Mubadala-Backed EGA Taps Banks for IPO at $15 Billion Value - Bloomberg
Emirates Global Aluminium, the Middle East’s biggest producer of the metal, is poised to select three U.S. banks as lead underwriters for its potential initial public offering, people with knowledge of the matter said.
The company, which is backed by sovereign fund Mubadala Investment Co., is preparing to bring on Citigroup Inc., Goldman Sachs Group Inc. and JPMorgan Chase & Co. to arrange the planned IPO, the people said. A share sale could value EGA at more than $15 billion, according to the people, who asked not to be identified because the information is private.
Emirates NBD Bank PJSC and First Abu Dhabi Bank PJSC are also expected to have roles on the offering, one of the people said. EGA may add more banks to the listing at a later stage, according to the people.
Deliberations are ongoing, and there’s no certainty EGA’s owners will decide to proceed with the listing, the people said. Representatives for Mubadala, EGA and the banks declined to comment.
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