IPO, News

    Bankrupt 1990s Internet Toy Company Still Thinks It Was Undervalued

    To get a sense of how old the Goldman Sachs IPO lawsuit-and-maybe-scandal that Joe Nocera and Felix Salmon wrote about this weekend is, consider this: the alleged victim was a company named eToys. With the “e,” and the “Toys,” and the weird capitalization. Also Henry Blodget was the analyst who covered them at Merrill. Different […]

    / Mar 11, 2013 at 10:29 AM
  • Source: Bloomberg, MANU  AQR. Btw does anyone else enjoy the imposed bell curve? PRICES ARE LOGNORMALLY DISTRIBUTED DAMMIT, your Bloomberg is telling you.

    IPO, News

    Manchester United IPO Goes Nowhere In Exciting Fashion

    I am the world’s worst technical analyst but even I can spot a support level: Or, as the Journal puts it, “English soccer club Manchester United’s stock didn’t rise much but didn’t fall either as it made its market debut Friday.” This is not the first Friday afternoon where we’ve played “guess the stabilization strategy […]

    / Aug 10, 2012 at 5:44 PM
  • IPO, News

    Facebook Attracting Children, Retirees, Not Advertisers

    A wonderful thing about the Facebook IPO is that there is a proliferation of imaginary markets in which to … well, not trade it exactly, but say what you would be doing if you could trade it, which is almost as good. Here is the Wall Street Journal’s imaginary market, with a “Current Price Prediction” […]

    / May 15, 2012 at 5:26 PM
  • IPO

    Jesse Jackson Stalks The Visa IPO

    Shakedown artist Jesse Jackson is back at it. As Visa’s prepares its $17 billion initial public offering, s expected to be the largest ever in the United States, Jackson is bending ears and twisting arms in an attempt to cut minority-owned investment banks in for a greater share of the underwriting fees. He’s even threatening […]

    / Mar 5, 2008 at 4:41 PM
  • IPO

    Bear Markets Wear Prada

    Uh-oh. For the fourth time in a decade, Prada is considering an IPO, according to Bloomberg. We remember all too well the last time this happened—in 2002. The markets promptly the beat a hasty retreat—five years backward, to 1997 levels. The dollar declined to historic lows against the euro. Prada blames the declining markets for […]

    / Sep 21, 2007 at 3:23 PM
  • IPO, Terrorism

    The Terrorists Win Anyway (Rain or Shine)

    If the terrorists lose, ICx Technologies may go out of business, which means the terrorists win. There is no jihad against paradoxes. ICx is planning a $184 million IPO, according to an S-1 filed yesterday. The homeland security company develops sensing technologies for government agencies and corporations like FedEx and Disney. How candid can a […]

    / Aug 8, 2007 at 10:45 AM
  • IPO

    Voltaire proving that optimism is a mania for maintaining all that is well when things are going badly

    It appears that the multitude of markets is making us ignorant. Even tiny unprofitable tech companies are trying to take advantage of the fervor in the (public) equity markets. Voltaire, a networking equipment company based in Herzeliya, Israel and Billerica, MA, filed for an IPO in which the company expects to raise $67.5 million. Voltaire […]

    / Jul 11, 2007 at 10:45 AM
  • Hedge Funds, IPO

    The Wizard of OZ Heads for IPO

    Och-Ziff Capital Management filed for a $2 billion initial public offering today, becoming the latest alternative asset management group to sell equity to the investing public. One question that keeps arising when these offerings are discussed is whether it makes sense for an outsider to get in on a business that the insiders are getting […]

    / Jul 2, 2007 at 4:13 PM
  • IPO

    Second Largest SPAC Ever, Best Management Team Ever

    For the first time ever, the words “former VP Dan Quayle and former Notre Dame football coach Lou Holtz,” are not the setup to a joke (punchline – because I just gave the lineman a potatoe). Instead Dan & Lou, and CEO of K2 Richard Heckmann, are planning to raise up to $500mm for a […]

    / Jun 27, 2007 at 2:22 PM
  • Blackstone, IPO, Stephen Schwarzman

    BX: The Opposite of Up

    Blackstone closed at $30.75 yesterday, down 5.2% for the day and below its $31 initial offering on Friday; shares fell to $30.48 during pre-market trading. This is embarrassing. Nobody (here) knows for certain why life is being so god damn unfair to Stephen Schwarzman, 5’6”, but perhaps it could have to do with the Schwarz’s […]

    / Jun 27, 2007 at 9:39 AM
  • Blackstone, IPO, Stephen Schwarzman

    Blackstone At 30.60

    The morning after: not always so pretty, is it? Neither is the morning after the morning after (weekends don’t count in trading land), especially if you’re Stephen Schwarzman. After closing at $35.06 on Friday, Blackstone’s shares fell 7.5% to $32.44. This translated to a loss of about $655 million for The Schwarz, and (we’re assuming) […]

    / Jun 26, 2007 at 10:05 AM
  • Blackstone, Blackstone Group, IPO, Stephen Schwarzman

    Calling Blackstone’s First Day Performance
    And The Winner Is…

    After opening with a poplet after its initial public offering on Friday, Blackstone’s stock has been trending downward toward the IPO price. On Friday, we asked DealBreaker readers to guess the price of the shares at close. (A move, we happily confess, was a blatant rip-off of a Market Beat item.) Reader BB called it […]

    / Jun 25, 2007 at 2:56 PM
  • Blackstone, IPO, Stephen Schwarzman

    Was the Blackstone Public Debut A Letdown?

    Yes, the offering priced at $31 opened 18% higher at $36.55. Yes, Erin Burnett and Mark Haines could barely contain themselves all morning. Yes, DealBreaker wrote 131 articles about the whole thing on Friday alone. But some people—cynical assholes—seem to think the BX offering was underwhelming. Andrew Ross Sorkin notes Paul Kedrosky, executive director of […]

    / Jun 25, 2007 at 10:26 AM
  • Blackstone, Blackstone Group, IPO

    Launching The BX Missile

    Shares of the Blackstone Group began trading on the New York Stock Exchange this morning under the ticker symbol BX at $36.45, an 18% premium from the initial public offering price. The opening was slightly behind schedule as the specialists handling the stock sorted out some pretty wild bid margins. One buyer asked for a […]

    / Jun 22, 2007 at 11:27 AM
  • Blackstone Group, IPO, Stephen Schwarzman

    Hey Nostradamus! Will Blackstone Regret This Week’s IPO?

    We are all quivering with excitement over the Blackstone IPO this week, but some, like Breakingviews.com editor Edward Chancellor, are looking further into the future. Because many of us at Dealbreaker hold or are pursuing advanced degrees in comparative literature with a financial sector specialization, we were fascinated by Chancellor’s piece in the June Institutional […]

    / Jun 20, 2007 at 3:07 PM
  • Blackstone, Blackstone Group, IPO, Private Equity

    Would Blackstone Buy Blackstone?
    And Other Questions About the IPO

    When Is the IPO? Blackstone Day will go down sometime during the week of June 25th, its underwrites said today. The exact date hasn’t yet been set. The stock will trade under the stock ticker symbol BX, in a bold repositioning of a brand logo already popular among proud Bronx hip-hoppers. How Do I Figure […]

    / Jun 12, 2007 at 3:10 PM
  • billionaires, IPO

    Two new Belles of the Billionaire Ball

    The old Tang Dynasty (618-907) may have been responsible for starting the practice of foot binding, but the new Tang Dynasty, 3,828 retail outlets strong, is responsible for binding women’s feet in pure comfort. Tang Yu, the chairman of Belle International Holdings, and daughter Tang Ming Wai are the world’s latest paper billionaires, controlling 34% […]

    / May 24, 2007 at 10:41 AM
  • Blackstone, Blackstone Group, IPO

    Blackstone Keeps Growing and Growing

    Just because some of Blackstone’s managed funds had a tougher first quarter this year than last year doesn’t mean the private equity firm has slowed down its growth. The most recent filing suggests that the firm’s assets under management grew by nearly $10 billion between March 1 and May 1, from $78.7 billion to $88.4 […]

    / May 22, 2007 at 12:01 PM
  • Blackstone, Blackstone Group, IPO

    Blackstone’s Fund Management Biz Slips

    Blackstone’s fund management business is growing but its performance slipped a bit over the past year, the firm’s most recent filing with the Securities and Exchange Commission suggests. The revised IPO prospectus filed by Blackstone on Monday said the firm had $35.3 billion in its funds of hedge funds and hedge funds, nearly $6 billion […]

    / May 22, 2007 at 8:32 AM
  • Blackstone, Blackstone Group, IPO, Private Equity

    Blackstone IPO: A Bigger Offering But A Smaller Firm?

    The Blackstone public offering is back in the news. The private equity firm today released a revised prospectus in a filing with the Securities and Exchange Commission, revealing for the first time the price it expects its shares to fetch at the initial public offering—between $29 and $31 dollars. Blackstone also said it expects to […]

    / May 21, 2007 at 1:22 PM
  • Apollo, Business Hacks, Business Media, IPO, Private Equity

    Does DealBook Owe CNBC An Apology?

    At the beginning of the month a dispute broke out between CNBC’s Charlie Gasparino and DealBook’s Andrew Ross Sorkin. Gasparino had reported that Apollo was considering going public, following the footsteps of the Blackstone Group and the map laid out by Fortress Investment Group into the public markets. Sorkin declared that CNBC had simply got […]

    / Apr 26, 2007 at 10:36 AM
  • IPO, Nina Wang

    China’s new richest person, courtesy of Country Garden

    As of last Friday, Asia has a new richest woman, and she’s completely alive. Yang Huiyan, the daughter of Yang Guoqiang, founder of Guangdong property developer Country Garden Holdings Co., is now worth more than twice the formerly living Nina Wang, who left her $4.2bn to feng shui proponent Chan Chun-cheun. Guoqiang gave his Country […]

    / Apr 23, 2007 at 10:48 AM
  • Blackstone, Blackstone Group, IPO

    Blackstone’s ‘Enron’ Accounting

    The Blackstone Group’s accounting methods are under further scrutiny today. The Wall Street reported on the first page of it’s C section that Blackstone plans to book estimated future gains from investments as current revenues. Under the plans disclosed in the filings for its public offering, Blackstone would book the present value of fees it […]

    / Apr 18, 2007 at 4:34 PM
  • Apollo, Banks, Goldman Sachs, IPO, JPMorganChase, Private Equity

    Apollo Looks For A Private Placement

    It’s the story that won’t stand still even long enough for a blog to report on it. Last night the Wall Street Journal’s Kate Kelly and Susan Pulliam reported that Apollo has retained Goldman Sachs and JP Morgan to explore a private placement of ten percent of it’s equity, possibly for as much as $1.5 […]

    / Apr 5, 2007 at 9:01 AM
  • Banks, Big Idea, Goldman Sachs, Hedge Funds, IPO, Private Equity

    Will Goldman Become the Next Public Hedge Fund?

    [Editor’s Note: We’re launching some new regular features and “The Big Idea” is the first of them. That nifty logo you see to the left will tip you off that we’re about to engage in speculation, guess-work and commentary about the Big Idea of the day, the week or the month. This isn’t the realm […]

    / Apr 4, 2007 at 3:22 PM
  • Apollo, IPO, Private Equity

    The Apollo IPO Story: DealBook Doubts It!

    There’s no Apollo IPO in the works and Apollo has not hired any investment banks to get the process started, says Andrew Ross Sorkin, fresh from the high of his takeover of the Business Section of the New York Times (technically, the B.S. still exists but it’s clearly now redundant and will be phased out). […]

    / Apr 4, 2007 at 1:14 PM
  • Apollo, Banks, Blackstone, Blackstone Group, Goldman Sachs, IPO, JPMorganChase, KKR, Private Equity

    Is the Apollo IPO A Consolation Prize or A Conflict Story?

    One storyline that is clearly emerging from the various private equity and hedge fund IPO rumors and reports is that the investment banks are gunning hard for this business. And they’re not waiting around for hedge funds to decide to go public—they’re pitching, even pushing, the idea of launching a public offering on the firms. […]

    / Apr 4, 2007 at 11:25 AM
  • Apollo, Blackstone, Blackstone Group, IPO, Private Equity

    Apollo Launching An IPO?

    Goldman Sachs is advising Apollo Management on an initial public offering, we learned from CNBC’s Charlie Gasparino late in the afternoon yesterday. Later CNBC reported that JP Morgan had a piece of the deal as well. While no final decision has been made to pursue the IPO, the private equity firm was “pretty far along” […]

    / Apr 4, 2007 at 9:02 AM

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