Blackstone Prices $4.1 Billion IPO

Jun 21 2007 | 5:44pm ET

The Blackstone Group announced today that the initial public offering of 133 million common shares in the firm has been priced at $31 per share. The shares are expected to begin trading tomorrow on the New York Stock Exchange under the symbol “BX.”

Blackstone’s underwriters have a 30-day option to purchase up to 20,000,000 additional shares at the public offering price less underwriting discounts. The firm intends to use a portion of the proceeds from the IPO and the concurrent sale of $3 billion of an investment vehicle to purchase interests in its business from its existing owners, to repay short-term borrowings, provide capital to invest in its existing businesses and to expand into complementary new businesses, according to the firm.

Morgan Stanley and Citi are the global coordinators of the offering and representatives of the underwriters and, together with Merrill Lynch & Co., Credit Suisse, Lehman Brothers and Deutsche Bank Securities, joint book-running managers of the offering.


In Depth

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Hard Assets Trending

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.