Blackstone-owned (BX) AGS Health has filed initial confidential paperwork for an initial public offering in Mumbai, Bloomberg reported Thursday, citing people familiar with the matter.
The private equity firm is working with JP Morgan (JPM), Jefferies Financial (JEF), Nomura (NMR), JM Financial, and ICICI Securities for the offering, which could raise as much as $500 million with a valuation of $3 billion, the report said.
The proposed share sale is expected to comprise a mix of primary issuance and secondary stake sales, the report said.
Blackstone and AGS did not immediately reply to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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