May 22 2007
Black stone over Red China
Blackstone to boost IPO after China move … front page news on FT, today. Geeee, how long would this stone thing be kept floating? I mentioned it few days ago, not sure it’s the first time I spotted it. Since then, this news is in the news everyday. It’ll be a media coup if you’re talking about coveted exposure and publicity, the equivalent advertising value. The founders will receive up to $4.5bn from the buy-out groups’s listing after China’s injection this past weekend, from $4bn to $7.8bn: 10% to the public and 9.9% to China’s soon-to-be-formed foreign exchange agency.