GEMS, which operates more than 250 schools across 14 countries, is planning a public listing in London stock exchange. GEMS could have a market capitalization of cUSD4.5-5.0bn, the sources said. The IPO is expected to take place in 2018. Backed by Dubai-based Fajr Capital, Bahraini state investment fund Mumtalakat and investment firm Blackstone, GEMs said on Monday it had secured a USD1.25bn loan to refinance existing borrowings and support growth. Separately on Monday, GEMS said it had invested more than USD1bn in its school network since 2014.
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