PRIVATE equity company TPG Capital Asia is considering a plan for an initial public offering of its pathology business in the region, said people with knowledge of the matter.

The buyout firm has asked banks to submit proposals for the potential listing of Pathology Asia Holdings, said the sources, who asked not to be named as the process is private. TPG is still weighing a listing venue for the business, and Singapore is among the options, they said.

TPG has expanded the business since it initially bought 39 pathology laboratories from Healthscope in 2018 for A$279 million (S$287.6 million), one source said. The operations are worth about US$2 billion (S$2.67 million) the person said.

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Source: Business Times