Advent Is Said to Pick Banks for US IPO of Gas Motor Firm Innio

Buyout firm Advent has picked banks to lead a planned US initial public offering of Innio, as the Austrian power equipment maker benefits from booming demand from data centers, people with knowledge of the matter said.

Advent has chosen Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley as global coordinators for the listing, the people said. Innio aims to sell shares as soon as this year, according to the people, who asked not to be identified because the information is private.

It may seek a valuation of roughly $15 billion for the company based on ...