TPG raises $182 million from sale of Taishin Financial shares

Private equity firm TPG has sold its entire stake in Taiwanese lender Taishin Financial, raising $181.5 million. The deal was launched after the Taiwanese market closed on Wednesday and was quickly finalised, a source said yesterday.

The company had one strong anchor investor that took up a good portion of the deal, while the rest was distributed to high-quality investors that were a combination of long-only and well-known international funds, the source said. They were mainly Asia-based investors.

TPG sold 492.14 million shares, or 7.8% of the shares outstanding in Taishin, for NT$11 each, which was the bottom of the marketed range between NT$11 and...