TPG, Affinity seek IPO exit from Singapore's UTAC
TPG Capital and Affinity Equity Partners are targeting a $400 million IPO for United Test Assembly Center (UTAC), a Singaporean firm that tests and assembles semiconductors. It is likely to be the largest listing in Singapore this year aside from business trusts and real-estate investment trusts, the Wall Street Journal reported.
According to people familiar with the situation, UTAC is currently gauging investor interest with a view to listing next month. TPG and Affinity purchased the company for $1.5 billion in 2007 and it...
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