Thursday, 30 July 2015
Last updated 7 hours ago
Jul 15 2010 | 4:13pm ET
Better late than never, Kohlberg Kravis Roberts is finally a New York-listed company.
The private equity giant shifted its listing from Euronext Amsterdam to the New York Stock Exchange today. Shares debuted at $10.50 each and peaked shortly after the opening bell at $11.08. The stock—which trades under the ticker symbol KKR—closed at $10.29, above its low of $10.21.
“Today's NYSE listing is an important milestone for KKR and will provide an opportunity for investors to share in the value being created by our firm,” co-founders Henry Kravis and George Roberts said in a statement.
KKR still plans to sell some $500 million in new shares on the NYSE.
The New York-based firm, which manages some $55 billion, originally planned to go public on the NYSE in July—2007, shortly after rival Blackstone Group floated on the exchange. But the credit crisis intervened, and KKR settled for a reverse-merger with its Amsterdam-listed private equity fund last year.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…