TPG launches $1 bln IPO of China Grand Auto -sources

HONG KONG, April 15 (BestGrowthStock) – Private equity firm TPG
[TPG.UL] is planning to exit China Grand Automotive Services Co
Ltd through a stock listing, and has hired China International
Capital Corp (CICC) and Goldman Sachs (GS.N: ) as lead managers,
sources familiar with the process told Reuters.

The size and the timing of the offer is still uncertain, but
some bankers estimate the initial public offering (IPO) could
raise about $1 billion.

TPG and Goldman Sachs declined comment, and CICC officials
were not available for immediate comment.

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(Reporting by Denny Thomas; Editing by Ken Wills)

TPG launches $1 bln IPO of China Grand Auto -sources