Shares in Blackstone Group fall below IPO price
Friday, June 29, 2007
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.
- Terry Keenan. "The Blackstone Group: Private Equity Goes Public" — , June 29, 2007
- "Carlyle halts IPO of affiliate" — , June 29, 2007
- "CBOE to Offer Options on Blackstone Group Starting Monday" — , June 29, 2007