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GEMS picks JP Morgan, Credit Suisse and Bank of America for $5 billion IPO - sources

Reuters  |  LONDON 

By Dasha AfanasievaLONDON (Reuters) - GEMS Education's owners have chosen JP Morgan, Credit Suisse and Bank of America Merrill Lynch 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, GEMs said on Monday it had ...

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First Published: Mon, December 04 2017. 16:22 IST