GIC picks UBS, CICC, DBS to bookrun IPO-sources
05. Aug, 2010
According to Reuters, “Singapore’s biggest sovereign wealth fund GIC has chosen UBS, China International Capital Corp (CICC) and Singapore’s DBS as joint bookrunners for its upcoming logistics unit IPO, two sources familiar with the deal said.
The initial public offering is likely to raise $2-$3 billion, much higher than earlier estimated, said the sources who declined to be named because the deal has not been made public yet.
These banks will join JPMorgan and Citigroup, which were first chosen as joint global coordinators, they said.
UBS and DBS declined to comment and CICC was not immediately available for comment. GIC also declined to comment.”
Source: Reuters
