MegazoneCloud Picks JPMorgan, Banks for IPO as AI Interest Grows
- The startup targets a valuation at several billion dollars
- Investors are glomming onto AI infrastructure firms worldwide
MegazoneCloud Corp. has selected firms including a unit of JPMorgan Chase & Co. to help it kickstart an initial public offering that could value one of Asia’s biggest cloud and AI services companies at several billion dollars.
The Korean cloud management company selected JPMorgan Securities, Samsung Securities Co. and Korea Investment & Securities Co. as lead underwriters for a public market float, according to people familiar with the matter. It gave secondary arranger roles to Bank of America Corp., Citigroup Global Markets Korea Securities Ltd. and KB Securities Co., the people said, asking not to be named discussing a private deal.