TPG's debut surged 15%, with a market cap exceeding $10 billion | IPO News

On January 13th, in US Eastern Time, the private equity giant$TPG Inc (TPG.US)$officially debuted on Nasdaq, also marking the first major IPO of the US stock market in 2022.

Its IPO was priced at $29.50 per share, with approximately 34 million shares issued, raising approximately $1 billion. The stock ticker symbol is "TPG".

At the close of trading, TPG surged 15.25%, with a stock price of $34 and a market cap of $10.436 billion. In after-hours trading, TPG's stock price experienced a slight decline.

TPG's listing this time is regarded as a "touchstone" for the "quality" of the US IPO market, helping investment institutions and upcoming companies gauge the level of activity in the IPO market this year, thus attracting market attention.

The first major IPO in 2022.

Although the size of the IPO market in the US in 2021 reached a historical high, newly listed companies generally underperformed in the last few weeks of the year. About two-thirds of the companies traded below their IPO prices at the end of last year.

Justworks, a software company preparing for IPO this week, announced on Wednesday that it will postpone its IPO due to recent volatility.

TPG CEO Jon Winkelried told the UK's Financial Times:

"The current market volatility has deterred many investors. However, TPG's IPO is different from before, as it is a highly profitable company with a 30-year history publishing a high-quality book."

With a 30-year history and assets of 100 billion.

TPG was founded in 1992 by David Bonderman, Jim Coulter, and William S. Price III. It currently manages assets totaling 109 billion US dollars.

TPG has had many classic investment cases: in 1993, it jointly invested 0.45 billion US dollars with Air Canada and Air Partners to acquire Continental Airlines, avoiding the latter's bankruptcy. Subsequently, it obtained over 10 times its investment return by selling stocks. In 2002, TPG acquired the struggling Burger King for 1.5 billion US dollars, and successfully took Burger King public in 2006. In addition, it is also an early investor in companies such as Uber and Airbnb.

TPG is also one of the earliest global private equity investment firms to enter the Chinese market. TPG has invested in leading companies in different fields in China, such as Li Ning, iKang Healthcare, DXY, Lenovo, CICC, China Postal Savings Bank, Shenzhen Development Bank, Beijing Marriott Hotel, Grand Skylight Catic Hotel, Wumart, and Mobike.

In addition to merger and acquisition investments, TPG has expanded and covered asset categories in private equity, growth funds, impact investing, real estate, and public funds.

In terms of financial data, the prospectus shows that TPG's total revenue for the years 2018 to 2020 and the year ending September 30, 2021 were 1.404 billion US dollars, 1.988 billion US dollars, 2.115 billion US dollars, and 3.897 billion US dollars, with net income of 0.711 billion US dollars, 1.18 billion US dollars, 1.439 billion US dollars, and 3.822 billion US dollars for the same periods.

On November 16, 2019, Hurun Research Institute released the "2019 Hurun Global Unicorn Active Investment Institution Top 100 List," with TPG ranking 37th.

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