Carlyle Group plans to list Japan’s WingArc1st Inc and is set to win approval for a listing as early as Thursday, two sources said, after the U.S. fund twice failed to float the software firm.
WingArc1st, which develops and sells business software, including cloud-based software, is likely to list by the middle of March with a market capitalisation of around $475 million, the sources said, declining to be identified because the information is not yet public.
It would be the first company to pull off an initial public offering (IPO) in Tokyo after twice failing to do so.
Carlyle and the Tokyo Stock Exchange both declined to comment. A spokesman for WingArc1st said the company is considering a listing, but declined to comment further.
Source: Yahoo Finance
Can’t stop reading? Read more
Apollo, CVC, Ares, and Sixth Street circle Serie A media rights stake
Apollo, CVC, Ares, and Sixth Street circle Serie A media rights stake Private equity firms...
Neuberger Berman leads continuation vehicle for Tailwind’s Axis Portable Air
Neuberger Berman leads continuation vehicle for Tailwind’s Axis Portable Air Neuberger has...
Chicago Atlantic expands into emerging markets private credit amid US investor pullback
Chicago Atlantic expands into emerging markets private credit amid US investor pullback Chicago...