TPG Capital is reportedly accelerating plans for a blockbuster return of Greencross to the ASX, with dealmakers targeting a valuation above $4 billion and a capital raising of more than $700 million before the end of March.
The private equity firm is weighing an initial public offering of about $700 million to $800 million for the pets and veterinary group, which would rank among Australia's largest market debuts of 2026 and cap a long-running exit process.
Bankers UBS, Barrenjoey and Jarden have been engaged on the float and met a select group of institutional investors late last year, flagging a relatively modest free float.
Due diligence committee meetings are now underway, while cornerstone investors are expected to be secured by late February.