TPG taps banks for Novotech IPO – AFR

TPG Capital LP tapped Goldman Sachs and UBS to help list Sydney-based clinical research and testing firm Novotech (Australia) Pty. Ltd. on the Hong Kong Stock Exchange, The Australian Financial Review reported March 3.

The private equity firm is looking at a valuation of over A$4 billion for the company.

GIC, Sequoia Capital and other investors bought a minority interest in Novotech from TPG in early 2021, with the clinical research firm attracting a US$2.3 billion valuation.