The Blackstone Group has moved its IPO up by a week. The private equity company plans to price the offering Thursday evening, and for the stock to begin trading on Friday under the ticker symbol BX.
Moving the IPO up after last week’s news of a tax bill that has the potential to lop as much as 20% off Blackstone’s valuation is, at the very least, a show of confidence from the company. It is also probably a sign that there is strong demand for shares in Blackstone. Blackstone and its bankers have most likely concluded that the offering is fully subscribed and that there is little to be gained from waiting until next week.
Posted by S&P, Jun 19, 2007 11:34PM
Is Blackstone bailing out Bear's hedge fund with $1.5 billion in order to prevent mark-to-market losses from appearing in its own holdings right before its IPO?
Does Blackstone have some ulterior motive in preventing J.P. Morgan, Citigroup and Merrill Lynch from selling these asset backed security bonds/derivatives?
Anyone? Bueller? Bueller?