Blackstone plans to list on the New York Stock Exchange as early as Friday, bringing forward the US private equity group’s landmark IPO by several days amid doubts about its valuation. The proposed $32bn market capitalisation of Blackstone came under pressure last week when two powerful US senators proposed legislation that would significantly raise the company’s tax bill in 2012. The political challenge to the listing coincided with tougher conditions in the bond markets. Blackstone declined to comment on the timing of the listing. On Tuesday, Morgan Stanley, one of the IPO’s lead underwriters, disclosed that the pricing of the Blackstone units would occur on Thursday, paving the way for trading to begin on Friday.

This entry was posted by Gwen Robinson on Wednesday, June 20th, 2007 at 5:52 and is filed under Capital markets, Private equity. Tagged with blackstone, morgan stanley. Edit this entry.