Wednesday, May 2, 2012

Carlyle Prices at $22: Below Original Range

Forbes reported:

The company (The Carlyle Group) priced its IPO at $22 per share after the closing bell, according to, 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.