Publish date:

Blackstone Raises IPO Stakes

The private equity giant expects shares to be priced around $30.

The Blackstone Group may offer as much as $4.75 billion in stock in its planned initial public offering.

The New York-based buyout shop is set to be the first publicly listed private equity fund, listing on the

New York Stock Exchange

(NYSE)

under the anticipated ticker symbol BX.

Blackstone expects to sell 133 million common units at $29 to $31 apiece via underwriters

Morgan Stanley

(MS) - Get Morgan Stanley (MS) Report

,

Merrill Lynch

(MER)

,

Credit Suisse

(CS) - Get Credit Suisse Group AG Sponsored ADR Report

,

TheStreet Recommends

Citigroup

(C) - Get Citigroup Inc. Report

,

Lehman Brothers

(LEH)

and

Deutsche Bank

(DB) - Get Deutsche Bank AG Report

, according to documents filed with the

Securities and Exchange Commission

ahead of the anticipated offering expected later this summer.

The underwriters are allowed to sell an additional 20 million common units at a price of $30.

Blackstone filed in March for its IPO.

The filing also acknowledges that China will purchase $3 billion of nonvoting common units at a 4.5% discount to its debut IPO price, in a deal announced on Friday. The state-run investment company's stake is expected to remain less than 10%.

"We are pleased to welcome the State Investment Company as an equity owner of our firm," said Stephen A. Schwarzman, chairman, chief executive and co-founder of Blackstone, in a statement regarding the China investment. "We are proud to be part of such a significant transaction for both of our organizations."