Reuters – Carlyle Aims for IPO for Japan’s Chimney Co.

Private equity group Carlyle Group will sell part of its stake in a Japanese restaurant chain operator Chimney Co. in an initial public offering in December, its third attempt to list a Japanese asset this year. Carlyle will sell 7.9 million shares, or 45 percent of its holdings in Chimney, which it invested in 2009, according to a statement issued by Chimney. Chimney will issue 1 million new shares, making the total size of the offer at 9.25 billion yen ($116 million). Carlyle may sell as many as 1.32 million additional shares depending on the market conditions, Reuters wrote.

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