Blackstone-backed GEMS Education said to be valued at US$4b in London IPO

London

GEMS Education may fetch a valuation of about US$4 billion or more in a potential initial public offering in London as early as next year, according to people familiar with the matter.

The private school operator - backed by private equity firms Blackstone Group LP and Fajr Capital Ltd and wealth fund Bahrain Mumtalakat Holding Co - has held meetings with investment banks in Dubai this month and is planning to make appointments in the coming weeks, the people said, asking not to be identified because the discussions are private.