JPMorgan Chase & Co. will probably join Morgan Stanley as global coordinator on the initial public offering of Emaar Properties PJSC’s shopping malls and retail business, three people with knowledge of the matter said.
The banks were informally hired, though no documents have yet been signed, said the people, who asked not to be named because the information is private. Emaar is also appointing lead managers for the sale, the people said. An official at Emaar who didn’t want to be identified said no advisers have been appointed. Spokesmen for JPMorgan and Morgan Stanley declined to comment.