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  1. #1

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    Blackstone Goes Public raises $4 billion

    Blackstone Goes Public raises $4 billion

    6/22/07

    The Blackstone Group: The Real Estate management company that owns part of Universal Orlando and Legoland went public yesterday and raised a record $4.13 billion as an IPO. Todays events are sending stock anaylists reeling. It is traded on the NYSE under the letters BX. As the time of this post shares, are trading at $35.

    More on this story at Bloomberg

  2. #2

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    Re: Blackstone Goes Public raises $4 billion

    Blackstone is a private-equity investment company with many diversified interests, not just real estate. They're in the business of taking publicly-traded companies private and reorganizing them for profit.

    The initial price for Blackstone was set at $31 per share yesterday and spiked to $36 and change after this morning's opening bell. It went as high as $38 before settling down to $35.06 at the close.

    The real winners in this deal were the execs for Blackstone. Founder and CEO Stephen Schwarzman stood to make $677 million after selling a portion of his shares. He'll still have a stake in his company worth $7.7 billion. Co-founder and chairman Peter Peterson will pocket $1.9 billion in stock sales and have a $1.4 billion stake. President and COO Hamilton James will get $22 million from stock with a $1.6 billion stake in the company.

    It's good to be king.
    Last edited by disneytim; 06-22-2007 at 01:54 PM.

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