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Global PE behemoth TPG aims for $9-B valuation in US IPO

Economic Times  

Global buyout giant TPG is aiming for a valuation of USD 9.3 billion in its US initial public offering, as the firm finally moves closer to a stock market flotation. The firm plans to sell about 28.3 million shares priced between USD 28 and USD 31 apiece in the offering. TPG would raise about USD 877.6 million at the top end of the range. Its existing investors plan to sell roughly 5.59 million shares. The buyout giant, among the last major players in the industry to remain in a closely held partnership, has made its approach to go public several years after rivals such as Apollo Global Management Inc, KKR & Co Inc and Blackstone Inc floated their shares.