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Mubadala-Backed EGA Taps Banks for IPO at $15 Billion Value

  • Citigroup, Goldman and JPMorgan set for lead roles on listing
  • Abu Dhabi IPO could be one of region’s biggest since Aramco
Aluminium Production at United Co. Rusal Plants
Photographer: Andrey Rudakov/Bloomberg
Updated on

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.