PAG, an Asia-focused private equity firm backed by industry giant Blackstone Inc., is considering a delay of its planned initial public offering in Hong Kong amid market volatility, according to people familiar with the matter.
PAG applied for an IPO in Hong Kong in March and was poised to be one of the financial hub’s biggest listings in a year that’s seen a drought of major share sales. Companies have raised $5 billion this year from Hong Kong IPOs, a fraction of the $35 billion raised in 2021, data compiled by Bloomberg show.
The firm’s offering could raise as much as $2 billion, Bloomberg News has reported. PAG is considering seeking a market capitalization of about $10 billion to $15 billion, people familiar with the matter have said.
Read more: BNN Bloomberg
