Forbes reported:
The company (The Carlyle Group) priced its IPO at $22 per share after the closing bell, according to TradeTheNews.com, the low end of a $22-$23 anticipated range that had already been lowered from $23-$25. The 30.5 million common units sold raised $671 million.Not long ago estimates were that 10% of Carlyle would fetch $850 million.
Shares of Carlyle will begin trading Thursday on the Nasdaq stock exchange.The DBD's, Carlyle's co-founders who plan to liquefy their stake, hope Carlyle doesn't pull an Oaktree and fall out of the IPO gate.
It took 21 investment banks to push Carlyle at $22. Unimpressive.
