On Friday all the investors eyes rested on ‘Blackstone’ , which was the first ‘private-equity’ firm to go public. All the major Exchanges and the Congress kept a watch over ‘Blackstone’. It is another story that it had opened less than what it was expected. Yet the opening was good, the unit shot upto 23%, it sold upto 133.3 million units at about $31 per unit, it was supposed to be oversubscribed by about seven times!. Blackstone has been labled as one of the fastest growing money manager and many are more than willing to lay their bet on it.
Though, overall the market did not perform too well on Friday, Blackstone seems to have made its mark. It might not have made an huge impact, like it was supposed to, but it did do fairly well. The reason for such ‘less than expected’ start might be due to taxes that could attract such a private equity firm. The investors need to wait another year to see how the stock performs and if it lives up to its track record.
Well we need to wait for some more time on various factors like that of tax structure, performance of the company to see whether it was worth the buy..along with the others in the exchange, I am sure to keep an eye on this one!