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
under the anticipated ticker symbol BX.
Blackstone expects to sell 133 million common units at $29 to $31 apiece via underwriters
, 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."