IE 11 is not supported. For an optimal experience visit our site on another browser.

Blackstone public offering could raise $4.75B

Blackstone Group LP, the second-largest U.S. private equity firm, on Monday said it plans to raise between $3.87 billion and $4.13 billion in an initial public offering scheduled for sometime this year.
/ Source: The Associated Press

Blackstone Group LP, the second-largest U.S. private equity firm, on Monday said it plans to raise between $3.87 billion and $4.13 billion in an initial public offering scheduled for sometime this year.

In a filing with the Securities and Exchange Commission, the New York-based firm said it will value its common units between $29 and $31 each. The terms come one day after Blackstone announced that China would invest $3 billion in the firm alongside its public offering.

Underwriters — which include Morgan Stanley, Citigroup Inc., Merrill Lynch & Co., Lehman Brothers Holdings Inc., and Deutsche Bank AG — have the option to float an additional 20 million units. This could raise the size of the IPO to $4.75 billion.

Blackstone plans to list on the New York Stock Exchange under the symbol "BX."