TPG Telecom has slashed its capital raising by $250 million after a death related to a Triple Zero call failure and equity market turmoil spooked institutional investors and slashed demand.
TPG’s shareholder register is dominated by London-listed Vodafone Group, Hong Kong’s CK Hutchison Holdings, TPG founder David Teoh and investment group Soul Patts, with minority shareholders accounting for just one quarter of the register. The telco group planned to raise $550 million from institutional investors to increase minority investors ownership of the company.
