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Och-Ziff Goes Public, Raises $1.15 Billion
November 14, 2007
Och-Ziff Capital Management raised $1.15 billion in its initial public offering yesterday, selling 36 million shares at the high end of its forecast price range.
Shares of Och-Ziff were priced at $32 a piece, and will be listed on the New York Stock Exchange starting today under the ticker symbol “OZM.” The stock was forecast to sell for between $30 and $33.
The IPO, underwritten by a syndicate led by Goldman Sachs and Lehman Brothers—who have an option to purchase another 5.4 million shares to cover overallotments—represents 9% of the $30 billion New York-based hedge fund manager.
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