Goldman, BofA Said to Give Up Lead Roles on Adnoc Gas IPO (1)

Goldman Sachs Group Inc. and Bank of America Corp. have relinquished their lead roles on Abu Dhabi National Oil Co.’s planned mega initial public offering of its natural gas business, people with knowledge of the matter said.

Adnoc is accelerating the timing of the listing, which is now slated to take place as soon as next month, the people said. HSBC Holdings Plc is now working alongside First Abu Dhabi Bank PJSC as a joint global coordinator on the proposed listing after Goldman Sachs and Bank of America dropped off the top line of underwriters, the people said, asking ...