Blackstone Market Debut Set for Week of June 25

Blackstone Group's much-awaited initial public offering is set for the week of June 25, underwriters said.

While the final date for the offering is still to be set, the IPO is slated for early that week, according to several underwriters.

Blackstone declined to comment on the date its shares are set to float on the New York Stock Exchange. The company has been approved to list its shares under the symbol "BX."

The offering, the largest by a private equity firm, comes amid a boom in leveraged buyouts. It is being led by Morgan Stanley, Citigroup, Merrill Lynch, Credit Suisse, Lehman Brothers and Deutsche Bank Securities.

Goldman Sachs and JPMorgan Chase are also on the list in Blackstone's latest IPO prospectus, listed among 11 third-tier co-managers that will buy and distribute Blackstone stock to investors.

Blackstone is offering 133.3 million common units at $29 to $31 each, according to a filing with the U.S. Securities and Exchange Commission, for IPO proceeds of $3.87 billion to $4.13 billion.

Another 20 million units may be sold to meet demand, boosting the amount raised to as high as $4.75 billion.

Blackstone's IPO will put part of the company in public hands. New unit holders will hold 12.2%, while the Chinese government is taking a 9.7% stake.