GEMS picks JP Morgan, Credit Suisse, BAML for $5 Billion IPO -Reuters

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GEMS Education's owners have chosen JP Morgan, Credit Suisse and Bank of America Merrill Lynch to lead its initial public offering, Reuters reports, citing unnamed sources.

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--GEMS, which operates more than 250 schools in 14 countries, could have a market capitalization of around $4.5 billion-$5 billion, Reuters said.

--The listing is expected to take place in London in 2018, according to Reuters.

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December 04, 2017 06:53 ET (11:53 GMT)