Blackstone looks for NYSE listing through $4-billion share float
23 March 2007
Among the largest global largest private equity and hedge fund firms, Blackstone Group, says it plans to raise up to $4 billion (approximately Rs17,496 crore) by selling some shares to investors.
Though Blackstone, which also provides corporate advice and restructuring services, has informed US regulators that it intended to list some of its shares on the New York Stock Exchange, it gave no details of when it would do so. Nor has disclosed the extent of shares it proposes to sell or at what price.
Blackstone, was in the news earlier this month for its bid on Chrysler and again for a proposed bid on the UK's largest supermarket chain Sainsbury's.
In November 2006, Blackstone pulled of the largest private equity deal with a $36-billion takeover of the largest US stock-market listed property company, US property firm Equity Office Properties, that controls 580 buildings in 16 states as well as in Washington DC and has an annual rental income of $3.4 billion.
Private equity firms tend to be very secretive about their operations; a stock market listing, however, would subject Blackstone, its investments and some of its strategies to public scrutiny.