Shares of KKR , the parent of private equity firm Kohlberg Kravis Roberts, are finally trading on the New York Stock Exchange, three years after it initially sought the US listing.
KKR & Co. LP filed to list its shares in the US in July 2007, hoping to raise up to $1.25 billion, after competitor Blackstone Group LP raised $4.1 billion in an initial public offering (Blackstone stock: ). It shelved those plans because of the financial crisis.
The company said in a securities filing last week that it will register 204.9 million common units worth about $1.93 billion, and said it may later raise about $500 million in a share offering.
The stock, which opened at $10.50, is trading under the symbol "KKR." It rose 10 cents to $10.60 as of this writing.
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