Private equity giant TPG aims to be valued at more than $9 billion in U.S. IPO Reuters

© Reuters. File picture: James Coulter, co-founder of private equity firm TPG Capital, formerly known as Texas Pacific Group, spoke at the Bloomberg Global Business Forum in New York, USA on September 26, 2018. REUTERS/Shannon Stapleton

(Reuters)-TPG’s goal is to value up to 9.3 billion U.S. dollars in its US IPO, because the private equity giant is finally close to a stock market listing after considering several years of listing ideas.

The company is Airbnb Inc, Uber Technologies (NYSE:) Inc and Sonic Technology SA (NYSE:) said on Tuesday that it plans to sell approximately 28.3 million shares in the offering at a price of between US$28 and US$31 per share.

TPG will raise approximately US$877.6 million at the high end of the range. Its existing investors plan to sell approximately 5.59 million shares, and the proceeds will not go to the company.

This acquisition giant is one of the last major players in the industry to maintain close cooperation, competing in Apollo Global Management (NYSE:) Inc, KKR & Co (NYSE:) Inc, KKR & Co (NYSE:) Inc, etc. In the next few years, the opponent has adopted a public listing. And Blackstone (NYSE:) Inc issued their shares.

TPG was founded in 1992 by David Bonderman and Jim Coulter, and was named Texas Pacific Group at the time. The company (Continental Airlines) made its first investment.

It now manages approximately $109 billion in assets, distributed among companies in industries ranging from retail to healthcare.

When the Fort Worth, Texas-based company went public, IPO and M&A activities hit record highs, which drove a sharp rise in the stock price of competitors.

Documents submitted by it show that this boom boosted TPG’s earnings, and net income for the nine months to September jumped more than five times to US$1.7 billion. Its revenue soared to US$3.89 billion from US$564.4 million in the same period last year.

JP Morgan Chase, Goldman Sachs (NYSE:), Morgan Stanley (New York Stock Exchange code:), TPG Capital BD LLC and Bank of America Securities are the lead underwriters for this issuance of TPG. It is expected to be listed on the Nasdaq under the code “TPG”.

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