Blackstone IPO Launches at $4.13B

NEW YORK CITY-Blackstone’s long-awaited initial public offering has finally hit Wall Street today, with 133.3 million common units launching at $31 per share. The stock, representing 12.3% of the company and trading as “BX”, is at the high end of the $29 to $31 price that the company said it would sell for.

The stock will trade on the NYSE. Morgan Stanley & Co. Inc. and Citigroup Global Markets Inc. are global coordinators and underwriters of the transaction. They and Merrill Lynch & Co, Credit Suisse, Lehman Brothers and Deutsche Bank Securities and joint book-running managers of the IPO.

The IPO was concurrent with Blackstone’s previously announced sale of $3 billion in non-voting stock, a full 10% of the company, to China through its State Investment Co. subsidiary.