KKR & Co. said its shares will start trading on the New York Stock Exchange on July 15, ending a three-year journey to take the buyout firm public.
The company will be listed under the ticker KKR, according to a statement July 6. Trading of KKR Guernsey in Amsterdam will end July 14. KKR, which has filed a registration statement to sell additional shares, said such a move would happen only after its New York listing is completed and will be “subject to market conditions.”
KKR initially filed to sell shares weeks before the global credit crisis crippled equity and debt markets in 2007. The firm scrapped that plan, opting to merge with its publicly traded European fund, a combination that was completed last year. A U.S. listing clears the way for KKR to issue additional stock and enables firm insiders to eventually cash out their stakes if they so choose.
The firm said earlier on July 6 that its founders will own 25% of the company. The stake is valued around $1.6 billion at the current share price. — Bloomberg