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    2628   CNE1000002L3

CHINA LIFE INSURANCE COMPANY LIMITED

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TPG Inc. Sets IPO at 33.9 Million Shares; Sees Pricing at $28-$31 Each

01/04/2022 | 07:03am EDT

By Colin Kellaher

Alternative asset management firm TPG Inc. on Tuesday said it plans to sell about 28.3 million shares at between $28 and $31 apiece in its initial public offering.

At the $29.50 midpoint of that range, the firm with headquarters in San Francisco and Fort Worth, Texas, said it expects net proceeds of about $775.1 million, or roughly $825.2 million if the underwriters exercise an option to buy an additional 1.78 million shares.

TPG said current shareholder China Life Insurance (Group) Co. is selling another 5.59 million shares in the offering, bringing the size of the IPO to 33.9 million shares.

TPG said it plans to use about 40% of the net proceeds to buy partnership interests in the TPG operating entity from other existing investors, with the remainder earmarked to pay offering and reorganization expenses and for general corporate purposes.

The firm said it has applied to list its shares on the Nasdaq Global Select Market under the symbol TPG.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

01-04-22 0702ET

Stocks mentioned in the article
ChangeLast1st jan.
CHINA LIFE INSURANCE COMPANY LIMITED 2.89% 11.38 Delayed Quote.-14.40%
NASDAQ COMP. 0.87% 11763.69 Real-time Quote.-25.45%
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Financials
Sales 2022 611 B 89 998 M 89 998 M
Net income 2022 45 745 M 6 743 M 6 743 M
Net cash 2022 1 021 B 151 B 151 B
P/E ratio 2022 5,55x
Yield 2022 6,57%
Capitalization 597 B 87 981 M 87 981 M
EV / Sales 2022 -0,69x
EV / Sales 2023 -0,84x
Nbr of Employees 103 262
Free-Float 99,5%
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China Life Insurance Company Limited Technical Analysis Chart | 2628 | CNE1000002L3 | MarketScreener
Technical analysis trends CHINA LIFE INSURANCE COMPANY LIMITED
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Mean consensus BUY
Number of Analysts 24
Last Close Price 9,56 CNY
Average target price 13,08 CNY
Spread / Average Target 36,8%
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Managers and Directors
Heng Xuan Su President, CEO & Executive Director
Xiumei Huang CFO, Executive Director & Vice President
Yuzeng Jia Chairman-Supervisory Board
Tao Bai Chairman
Chongmiao Xu General Manager-Legal & Compliance