Deals
Buyout Firm TPG Sets Terms for Up to $1.05 Billion IPO
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TPG Inc. set terms for a U.S. initial public offering that could raise as much as $1.05 billion, as it joins larger rivals like Blackstone Inc. in listing on the stock market.
The private equity firm and one of its existing backers, China Life Insurance Group Co., plan to offer 33.9 million shares at $28 to $31 apiece, according to a filing Tuesday with the U.S. Securities and Exchange Commission. At the top of that range, TPG could be valued at $9.5 billion, based on the number of shares listed in the prospectus.