PAG has filed for an initial public offering that could value the Asia-focused private equity firm at about $20 billion, people with knowledge of the matter said.
The investment firm submitted a listing application to the Hong Kong stock exchange on Friday, according to the people, who asked not to be identified because the information is private. The offering could raise at least $2 billion, the people said.
The Hong Kong-based firm would join a number of global rivals seeking public listings. TPG Inc. raised $1 billion earlier this year in a U.S. IPO, while CVC Capital Partners has lined up banks for a share sale that could value it at more than $20 billion, Bloomberg News has reported.
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