* Carlyle selling 45 pct of restaurant group Chimney
* Shares to be listed on Tokyo bourse in December
* Two previous Carlyle-backed Japan IPOs fizzled
TOKYO, Nov 9 Private equity group Carlyle Group
LP 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.
Chimney is one of the first companies Carlyle invested in
Japan after shifting its focus to smaller companies.
The U.S. buyout fund had failed in initial public offerings
for two other companies this year. Carlyle-backed ball-bearing
maker Tsubaki Nakashima Co called off an up to 43.3 billion yen
initial public offering in September, citing market conditions.
In April AvanStrate Inc, a Carlyle-owned maker of glass used
for liquid-crystal displays, pulled its IPO plans to raise 21.4
Shares in Chimney will be listed on the Tokyo Stock Exchange
on Dec. 14. Chimney expects to price the shares at 1,040 yen per
share. The official price will be set on Dec. 5.