Hitachi Said to Pick Six Banks for U.S. IPO of HGST

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Hitachi Said to Pick Six Banks for U.S. IPO of Unit
Hitachi Ltd.’s hard-drive unit plans to raise as much as $1 billion in a U.S. initial public offering and has hired six banks to manage the sale, two people familiar with the plans said. Hitachi Global Storage Technologies will use New York-based Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley; Bank of America Corp. in Charlotte, North Carolina; and Nomura Holdings Inc. in Tokyo to manage the sale, said the people, who declined to be identified because the information isn’t yet public.