Wikinews

Shares in Blackstone Group fall below IPO price

There are no reviewed versions of this page, so it may not have been checked for adherence to standards.

Friday, June 29, 2007

Stock in the Blackstone Group, a major private equity founded by Peter G. Peterson and Stephen Schwarzman, has fallen below its initial public offering price of US$31.00.

Blackstone L.P. (NYSE symbol: BX) initially soared 13 percent after being offered on the New York Stock Exchange last week. However, lately the stock has dropped to below $30. The stock was issued to brokerages for $31 a share.

Some fear that the so-called "Private Equity Boom" may be at its peak. Others attribute the falling price to recent discussions in Washington of changing laws that critics call "loopholes," which allow such firms to pay capital gains tax instead of income tax.

Sources

edit
 

Share this:           


 

This page is archived, and is no longer publicly editable.

Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

Note that some listed sources or external links may no longer be available online due to age.

The text of this article is licensed under the terms of the Creative Commons Attribution 2.5 License

  This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

Note that some listed sources or external links may no longer be available online due to age.

The text of this article is licensed under the terms of the Creative Commons Attribution 2.5 License



Retrieved from "https://en.wikinews.org/wiki/Shares_in_Blackstone_Group_fall_below_IPO_price"