WASHINGTON (AP) â¿¿ The Carlyle Group has priced its planned initial public offering at $22 per unit, below its expected price range, but setting the stage for the private equity firm to potentially raise more than $700 million. The price range given by the firm in its IPO filing was between $23 and $25. The firm said Wednesday that some 30.5 million of its common units are expected to begin trading Thursday on the Nasdaq under the ticker symbol "CG." Carlyle also has granted underwriters an option to buy up to 4.575 million additional units at the IPO price, minus underwriting discounts. The firm first filed plans to go public in September, a rocky time in the market when many companies that had planning offerings were delaying them. The market's appetite for IPOs has improved; notable recent non-tech offerings include those of food maker Annie's Inc. and mobile advertising company Millennial Media. Carlyle plans to use the net proceeds from its offering to repay debt and for general corporate purposes. Founded in 1987, Carlyle is among the largest and best-known private equity firms. Its portfolio includes more than 200 companies and about $147 billion in assets under management. With two other private equity firms, it co-owned Dunkin' Brands Group Inc. before the restaurant operator's successful IPO last year.
More from Personal Finance
White-Collar vs. Blue-Collar Jobs: What's the Difference?
What exactly is the difference between white-collar and blue-collar jobs in today's economy?
What Is Cash Value Life Insurance and How Does It Work?
Cash value life insurance is a form of permanent life insurance in which part of the payment goes into an investment account.
What Is a Credit Reference? Definition and Example
A good credit reference can put you over the top and get the credit or loan you need to better handle your finances.
Buying a Car Out of State in 2019: Tips and How to Do It
Buying a car out of state can be challenging, but it can also help you save money under the right circumstances. Find out when you should consider buying a car out of state and what steps you should take.