SAN FRANCISCO & FORT WORTH, Texas - TPG Inc. (NASDAQ:TPG), a prominent global alternative asset management firm, has announced an underwritten secondary public offering of 15,526,915 shares of its Class A common stock. The shares are being sold by certain stockholders, with the company itself not offering any stock and thus not receiving any proceeds from the sale.
The transaction is managed by J.P. Morgan and Morgan Stanley (NYSE:MS), who are acting as the underwriters. These shares will be sold in various formats, potentially including on the Nasdaq, in over-the-counter markets, through negotiated transactions, or at market or negotiated prices.
Investors can obtain copies of the prospectus and the related prospectus supplement from the underwriters, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC. These documents, which provide more complete information about TPG and this offering, are also available on the SEC's website via EDGAR.
TPG, with $222 billion in assets under management, operates across diverse strategies such as private equity, impact, credit, real estate, and market solutions. The firm emphasizes collaboration, innovation, and inclusion to add value for its fund investors, portfolio companies, management teams, and communities.
The announcement is based on a press release statement.
InvestingPro Insights
As TPG Inc. (NASDAQ:TPG) makes headlines with its secondary public offering, investors are keeping a close watch on the company's financial metrics and market performance. TPG's current Market Cap stands at a robust $15.62 billion, reflecting the firm's significant presence in the global alternative asset management sector.
Despite a challenging market, TPG's share price has shown resilience with a strong return over the last six months, boasting a 65.06% increase. This trend aligns with the InvestingPro Tip highlighting the stock's large price uptick over the same period. Additionally, the company's Price / Book ratio, as of the last twelve months ending in Q4 2023, is at 26.96, indicating a high valuation by the market relative to its book value.
Investors might also take interest in TPG's dividend yield, which is currently at an attractive 4.11%, coupled with a substantial dividend growth of 69.23% in the last twelve months as of Q4 2023. This could signal a rewarding opportunity for income-focused investors.
For those seeking more in-depth analysis, InvestingPro offers additional insights, including an InvestingPro Tip that TPG is expected to be profitable this year, which could provide further confidence in the firm's financial health. Moreover, there are 10 more InvestingPro Tips available that could help investors make more informed decisions. To access these tips and more, users can visit InvestingPro and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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