Global private equity and venture capital news and research

TPG sells remaining shares in Taishin Financial Holding

5 Jul 2012

Global buyout firm TPG Capital has sold its remaining 6.55 per cent stake in Taiwanese bank Taishin Financial Holding for around $182m.

The firm sold 492.14 million shares at NT$11 each through an accelerated bookbuild, equivalent to a 6.38 per cent discount to Taishin’s closing price of NT$11.75 yesterday.

Nomura Holdings acted as sole bookrunner.

TPG bought a 22.3 per cent stake in Taishin for NT$27bn in March 2006, when a surge in defaults forced the lender to seek investors to bolster its balance sheet.

The move follows an accelerated bookbuild in December that saw the US firm sell down its stake from 14.82 per cent to 6.55 per cent, which helped it raise NT$11.36bn ($374m).

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