IPO Preview: The Carlyle Group
By IPOdesktop: Based in Washington, DC, Carlyle Group (CG) scheduled a $732 million IPO with a market capitalization of $7.3 billion at a price range mid-point of $24 for Thursday, May 3, 2012.CG is one of six IPOs scheduled for the week of April 30th. (Full IPO calendar here).Notice that CG's S-1 is 460 pages, which is a bit much.Manager, Joint Managers: J.P. Morgan; Citigroup; Credit Suisse.SUMMARY $500 million of debt to be repaid was incurred from the sheikdom of Dubai, originally in December, 2010 to pay cash dividends to CG shareholders. If CG is so great why did Dubai force a repayment in March, 2012 a month or so before CG's IPO to repay the re-financed debt?Also, Carlyle says it will IPO at a discount to other alternative investment managers, based on Carlyle producing $862 million in distributable earnings for 2011. Those earnings, however, cannot beComplete Story »
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