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| Version 1 | Version 2 |
|---|---|
| Blackstone float raises $4.13bn | Blackstone float raises $4.13bn |
| (about 3 hours later) | |
| The partial stock market listing of US private equity giant Blackstone has raised $4.13bn (£2.07bn). | The partial stock market listing of US private equity giant Blackstone has raised $4.13bn (£2.07bn). |
| Floating a 13.2% stake in the company, the shares were priced at $31, at the higher end of forecasts, which values the company at about $33.5bn. | Floating a 13.2% stake in the company, the shares were priced at $31, at the higher end of forecasts, which values the company at about $33.5bn. |
| The listing comes despite some US politicians calling for it to be delayed, arguing that Blackstone and similar firms should pay more tax. | The listing comes despite some US politicians calling for it to be delayed, arguing that Blackstone and similar firms should pay more tax. |
| China's purchase of a large stake in Blackstone has also caused concern. | China's purchase of a large stake in Blackstone has also caused concern. |
| The Chinese State Investment Company bought a 10% share in the business for £3bn in May. | The Chinese State Investment Company bought a 10% share in the business for £3bn in May. |
| Tax debate | Tax debate |
| Some US politicians had called for Blackstone's float to be delayed until they could introduce a new law to increase the amount of tax that such private equity firms have to pay. | |
| At present a loophole allows such companies to pay significantly less than more typically structured businesses. | At present a loophole allows such companies to pay significantly less than more typically structured businesses. |
| China's investment in Blackstone has raised national security concerns in Washington. | China's investment in Blackstone has raised national security concerns in Washington. |
| Blackstone has an interest in the firm that supplies software to the US military, prompting fears about foreign influence over key national assets. | Blackstone has an interest in the firm that supplies software to the US military, prompting fears about foreign influence over key national assets. |
| Reports say that Blackstone's chief executive and co-founder Stephen Schwarzman will walk away from the float with a 24% stake in the business worth about $7.7bn. | Reports say that Blackstone's chief executive and co-founder Stephen Schwarzman will walk away from the float with a 24% stake in the business worth about $7.7bn. |