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Philippines National Grid taps banks for $1.5b IPO


Philippines National Grid taps banks for $1.5b IPO
FILE PHOTO: A trader walks past the electronic board of the Philippine Stock Exchange in Makati city, Metro Manila, Philippines June 27, 2016. REUTERS/Romeo Ranoco
March 16, 2021
National Grid Corp. of the Philippines has picked banks to work on its initial public offering and has increased its targeted size to at least $1.5 billion, according to people with knowledge of the matter, paving the way for the biggest listing in the nation’s history.
The high-voltage electricity network operator, commonly known as NGCP, has selected Bank of America Corp., JPMorgan Chase & Co. and UBS Group AG to work on the first-time share sale, said the people, asking not to be named as the process is private. It may also add other banks to help with the listing, they said. ....

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Goldman Weighs Sale of Majority Stake in Japan Renewable


Goldman Weighs Sale of Majority Stake in Japan Renewable
Bloomberg
3/9/2021
Manuel Baigorri
© Bloomberg
A wind turbine stands next to solar panels at a Banpu Power Pcl solar plant in Awaji, Hyogo, Japan, on Friday, Nov. 17, 2017. Banpu Power owns 13 solar projects in Japan.
(Bloomberg) Goldman Sachs Group Inc. is exploring a sale of its majority stake in Japan Renewable Energy Corp. that could raise about $2.5 billion, according to people familiar with the matter.
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Goldman is working with its in-house investment banking team and Bank of America Corp. on the potential sale of its 75% stake in Japan Renewable, the people said, asking not to be identified because the matter is private. The sale has drawn preliminary interest from buyers including other renewable companies, infrastructure and pension funds, the people said. ....

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