initial public offerings (IPOs) trading on American exchanges

Thursday, May 3, 2012

Carlyle Group (CG) started trading on the NASDAQ on May 3, 2012

Carlyle Group’s shares opened up less than 1% after pricing its IPO below expectations Wednesday. The largest U.S. IPO of the year, as measured by the $671 million the offering raised, inched higher to $22.35 in recent trading, up 1.6%.

The private equity group cut its IPO price to $22 from its expected range of $23 to $24, which WSJ said was a move intended to create a first-day gain and make sure it was successful.

The DC-based private equity firm is the second largest asset manager in the world.
David Rubenstein, right, Bill Conway and Daniel D'Aniello, center, founded the Carlyle Group. The private-equity firm is soon expected to file documents that would turn it into a public company. Overnight, Carlyle's 99 partners will become millionaires and billionaires, with individual stakes valued from $3 million to $2 billion and up.

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