Abu Dhabi National Hotels Company PJSC has picked banks for a planned initial public offering of its catering business, joining a busy pipeline of new share sales in the Middle Eastern capital. The owner of hotels including the Ritz-Carlton and Park Hyatt in Abu Dhabi has tapped Citigroup Inc. and First Abu Dhabi Bank to work on the listing of ADNH Catering, the people said, asking not to be identified as the information isn't public. The share sale could raise about $300 million to $400 million, one of the people said.

Details of the offering such as size and timing are still preliminary and subject to change, the people said. Representatives for FAB and Citi declined to comment. ADNH didnt respond to requests for comment.