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CORRECTED-Carlyle to IPO Japan's WingArc1st, valuing firm at $475 mln, sources say

(Corrects headline and first paragraph to show $475 million isthe company's estimated market cap, not the IPO value)

TOKYO, Feb 16 (Reuters) - Carlyle Group plans to listJapan's WingArc1st Inc and is set to win approval for a listingas early as Thursday, two sources said, after the U.S. fundtwice failed to float the software firm.

WingArc1st, which develops and sells business software,including cloud-based software, is likely to list by the middleof March with a market capitalisation of around 50 billion yen($475 million), the sources said, declining to be identifiedbecause the information is not yet public.

It would be the first company to pull off an initial publicoffering (IPO) in Tokyo after twice failing to do so.

Carlyle and the Tokyo Stock Exchange both declined tocomment. A spokesman for WingArc1st said the company isconsidering a listing, but declined to comment further.($1 = 105.6000 yen)(Reporting by Takashi Umekawa; Additional reporting by MakikoYamazaki; Editing by David Dolan)

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