Pathology Asia joins renewable energy firm Sunseap Group Pte, Thai Beverage Pcl’s brewery unit and City Developments Ltd.’s UK asset real estate investment trust in seeking an IPO in Singapore. The country has only seen one new listing this year, according to data compiled by Bloomberg. Aztech Global Ltd. raised about US$224 million ($301.8 million) in an offering this month.
TPG Capital Asia has picked banks to help prepare an initial public offering of its pathology business in the region that could raise as much as $800 million in Singapore, according to people with knowledge of the matter.
The private equity firm is working with Citigroup Inc. and CIMB Group Holdings Bhd. on the planned first-time share sale of Pathology Asia Holdings Pte, said the people. Credit Suisse Group AG and DBS Group Holdings Ltd. are also working on the offering, they said, asking not to be named as the process is private. A listing in the city-state could take place as soon as the end of this year, the people said.
