Friday, 26 December 2014
Last updated 1 day ago
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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.