Venerable partnership expected to go public
Article Abstract:
Goldman Sachs, an investment bank, is to announce that it is going public and will abandon close to 130 years of private partnership. The initial public offering could value the company at upward of $30 billion. After asking the opinion of partners with 80% of the company, the consensus appear to be that 20% of the firm will be sold in the initial public offering, which could happen as early as October 1998. The move by the prominent private partnership will have a huge effect, not only in the firm, which will be dramatically redefined, but in the industry as well since the viability of private partnerships will be scrutinized.
Comment:
Is to announce that it is going public & will abandon close to 130 years of private partnership
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 1998
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Goldman Sachs shares start trading today
Article Abstract:
Goldman Sachs begins trading on the New York Stock Exchange on May 4, 1999, using the 'GS' ticker symbol. The investment bank raised over $3.6 billion in an initial public offering, making it the second-biggest IPO in US history. The IPO sold 69 million shares at $53 apiece, mostly to institutional investors. The share valuation gave the company a market value of $24.7 billion, which is 3.5 times book value.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 1999
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Comment about this article or add new information about this topic:
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