TPG Inc. Sets IPO at 33.9 Million Shares; Sees Pricing at $28-$31 Each
04 Gennaio 2022 - 1:17PM
Dow Jones News
By Colin Kellaher
Alternative asset management firm TPG Inc. on Tuesday said it
plans to sell about 28.3 million shares at between $28 and $31
apiece in its initial public offering.
At the $29.50 midpoint of that range, the firm with headquarters
in San Francisco and Fort Worth, Texas, said it expects net
proceeds of about $775.1 million, or roughly $825.2 million if the
underwriters exercise an option to buy an additional 1.78 million
shares.
TPG said current shareholder China Life Insurance (Group) Co. is
selling another 5.59 million shares in the offering, bringing the
size of the IPO to 33.9 million shares.
TPG said it plans to use about 40% of the net proceeds to buy
partnership interests in the TPG operating entity from other
existing investors, with the remainder earmarked to pay offering
and reorganization expenses and for general corporate purposes.
The firm said it has applied to list its shares on the Nasdaq
Global Select Market under the symbol TPG.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 04, 2022 07:02 ET (12:02 GMT)
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