TPG and PAG float Cushman shares through public offering

Funds affiliated with TPG and PAG Asia Capital are seeking to offload shares in Cushman & Wakefield through an underwritten public offering. The shareholders are proposing to sell 26,513,041 ordinary shares. Cushman is not offering any ordinary shares and will not receive any proceeds from the offer. The last reported sales price of Cushman’s ordinary shares, dated 17 May, was $11.72 per share. If shares were sold in line with last trade, the stakes would be worth a combined $310.7m (£244.5m). JP Morgan is the sole underwriter for the offering. Photo by Roberto Machado Noa/Shutterstock (11918937ep)