Banking, finance, and taxes
Blackstone Group IPO...Prices After All (BX)
Published:
After all the hemming and hawing, and all the publicity and tabloid-esque coverage of the deal…..It’s finally happened. The Blackstone Group, L.P. sent out a news bulletin after today’s close with the details of its PRICED Initial Public Offering. It has priced 133,333,334 million units at a price of $31.00 per unit. The units will begin trading Friday, June 22, 2007 under the ticker "BX" on the NYSE.
The global coordinators are Morgan Stanley and Citigroup. The joint book running managers are listed as Merrill Lynch, Credit Suisse, Lehman Brothers, and Deutsche Bank.
Assuming that the last straw today where Representative Henry Waxman’s letter sent to the SEC to ask for a delay in the IPO doesn’t matter, then we’ll see this begin trading tomorrow.
There were multiple reports that KKR had also hired two investment banks to pursue a similar IPO filing. The demand for Blackstone was easily there and many reports had the deal being more than seven-times oversubscribed. It looks like Schwarzman’s tabloid-esque coverage of late, the private equity going public gossip, the negative press, and even the political wranglings invloved didn’t kill the deal.
We’ll say with finality that "It’s a done deal" once we see the trades begin Friday. Until then, stay tuned.
Jon C. Ogg
June 21, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in any of the companies he covers.
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.