Monday, 29 August 2016
Last updated 2 days 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.