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Private-equity firm TPG raises $1 billion in IPO

By Echo Wang (Reuters) -Private-equity firm TPG said on Wednesday it raised $1 billion in its U.S. initial public offering (IPO) at a valuation of $9.1 billion. TPG's stock...
Private-equity firm TPG raises $1 billion in IPO © Reuters.

By Echo Wang

(Reuters) -Private-equity firm TPG said on Wednesday it raised $1 billion in its U.S. initial public offering (IPO) at a valuation of $9.1 billion.

TPG's stock market debut comes a decade after most of its major peers went public. The firm spent years recovering from a string of poor investments in the 2000s and diversifying its private-equity platform into growth and social impact investing.

With the shares of many publicly listed private-equity firms hovering near all-time highs, and peers such as EQT (NYSE:EQT) AB and Bridgepoint Group Plc having launched IPOs in the last three years that were well-received by the market, TPG decided now was the time to follow suit.

It braved a choppy market. Three other IPOs, including that of TypTap Insurance Group, were canceled this week, as investor concerns about raging inflation and higher interest rates fueled market volatility.

TPG said on Wednesday it priced its IPO at $29.50 per share. The buyout firm had said this week it planned to sell the shares at between $28 and $31 apiece.

The Fort Worth, Texas-based firm has nearly $109 billion in assets under management, with investments in companies including Airbnb Inc, Spotify Technology SA (NYSE:SPOT), Burger King and McAfee Corp.

TPG said in a regulatory filing it intends to use the proceeds from the offering to fund growth initiatives and expenses.

About 40% of the capital raised would go to TPG shareholders who are looking to cash out. That excludes its founders, who plan to keep their holdings for now.

Founded in 1992 by David Bonderman and Jim Coulter, TPG was launched as Texas Pacific Group in Mill Valley, California. Its first major investment was in the then bankrupt Continental Airlines in 1993.

J.P. Morgan, Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), TPG Capital BD LLC and BofA Securities are the lead underwriters for TPG's offering.

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21-01-2022 04:27:36 (UTC+7)

EUR/USD

1.1340

+0.0029 (+0.26%)

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EUR/USD

1.1340

+0.0029 (+0.26%)

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GBP/USD

1.3567

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USD/JPY

113.94

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AUD/USD

0.7186

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USD/CAD

1.2529

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1.0345

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Adidas AG

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 EUR/USD1.1340↑ Buy
 GBP/USD1.3567Sell
 USD/JPY113.94↑ Buy
 AUD/USD0.7186Buy
 USD/CAD1.2529Neutral
 EUR/JPY129.21↑ Buy
 EUR/CHF1.0345↑ Sell
 Gold1,831.75↑ Sell
 Silver24.383Buy
 Copper4.5285↑ Buy
 Crude Oil WTI83.87↑ Buy
 Brent Oil86.84↑ Buy
 Natural Gas3.931↑ Buy
 US Coffee C240.80↑ Sell
 Euro Stoxx 504,241.65↑ Buy
 S&P 5004,482.73↑ Sell
 DAX15,681.67↑ Buy
 FTSE 1007,515.92Buy
 Hang Seng24,965.55↑ Buy
 Small Cap 20002,024.04↑ Sell
 IBEX 358,675.58↑ Buy
 BASF66.360↑ Sell
 Bayer51.85↑ Sell
 Allianz221.95Buy
 Adidas254.18↑ Sell
 Lufthansa6.918↑ Sell
 Siemens AG145.46↑ Sell
 Deutsche Bank AG11.537Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,120/ 6,160
(5/ 5) # 1,139
SJC HCM6,115/ 6,175
(5/ 5) # 1,153
SJC Hanoi6,115/ 6,177
(5/ 5) # 1,155
SJC Danang6,115/ 6,177
(5/ 5) # 1,155
SJC Nhatrang6,115/ 6,177
(5/ 5) # 1,155
SJC Cantho6,115/ 6,177
(5/ 5) # 1,155
Cập nhật 21-01-2022 04:27:39
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ↀ Giá vàng thế giới
$1,832.13-6.95-0.38%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2486025350
RON 95-II,III
E5 RON 92-II2359024060
DO 0.05S1890019270
DO 0,001S-V1925019630
Dầu hỏa1779018140
ↂ Giá dầu thô thế giới
WTI$83.74+1.942.31%
Brent$86.71+1.421.63%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.450,0022.760,00
EUR24.965,0926.364,70
GBP29.963,4031.243,06
JPY192,94204,24
KRW16,3919,97
Cập nhật lúc 16:24:56 21/01/2022
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