Monday, April 16, 2012

latest prospectus Carlyle ipo shares prices expected at $23 -$25 per share

latest prospectus Carlyle ipo shares prices expected at $23 -$25 per share ; The Carlyle Group said on Monday that it expected to price its initial public offering at $23 to $25 a share, valuing the private equity firm at up to $7.6 billion.

In its latest amended prospectus, the last expected before the offering’s pricing, Carlyle confirmed that it is selling about 10 percent of its shares, or 3.5 million shares, in the I.P.O. At the midpoint of the range, the buyout shop will raise about $732 million, and potentially more if underwriters exercise an overallotment option that increases the size of the offering.

Given the latest pricing expectations, Carlyle would be valued at less than half of its biggest publicly traded peer, the Blackstone Group. But its market value would be more than double that of Kohlberg Kravis Roberts and Apollo Global Management.

Carlyle and its underwriters argued privately that they were pricing the offering on the conservative side, according to people briefed on the matter, hoping to win over investors and see a rise in the share price once the stock begins trading.

Among the pitfalls that the firm is seeking to avoid is a quick drop in its stock price. Another major investment firm, the Oaktree Capital Group, went public last week only after cutting the size of its offering and pricing its I.P.O. at the bottom of its range. And still, the firm’s stock began trading below that low point.

The revised filing with the Securities and Exchange Commission is the last before Carlyle executives and their advisers begin a roughly two-week race around the world in a road show to investors. That means that the offering will likely be priced early next month.

Carlyle plans to begin trading on the Nasdaq stock market under the ticker symbol “CG.” Its offering is being led by JPMorgan Chase, Citigroup and Credit Suisse.

For the latest updates on the stock market, PRESS CTR + D or visit Stock Market Today
For the latest updates PRESS CTR + D or visit Stock Market news Today

Related Post:

No comments:

Post a Comment