Goldman partners searched their souls before IPO decision

Article Abstract:

Goldman, Sachs & Co., an asset management services provider, intends to conduct an initial public offering of company stock. The firm expects to generate $25 billion from the proposed stock sale, which involves 10% to 15% of the firm's total stock. The move is part of the efforts of the company to sufficient capitalization that will allow it to weather difficult financial situations like the one it encountered in 1994. The offering also reflects the firm's efforts to ensure its survival in the event that a large number of partners decide to leave if they lose some of their assets.

Comment:

To conduct an initial public offering of company stock to raise $25 billion

Goldman, Sachs and Co.

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Goldman plans IPO following long holdout

Article Abstract:

Goldman, Sachs & Co. will pursue an initial public offering in a move to generate over $2.5 billion in capital. The IPO, which will involve the sale of a 10% to 15% stake in Goldman, is set to become the biggest US financial-services IPO ever, besting Allstate Insurance Co.'s $2.1 billion initial offer. The IPO is also set to benefit the firm's partners as first-year partners will obtain with equity interests valued at $50 million, while senior partners will end up with stakes worth over $125 million initially.

Comment:

Will pursue an initial public offering in a move to generate over $2.5 bil in capital

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Partners back IPO proposal for Goldman

Article Abstract:

Goldman, Sachs & Co.'s partners gave their overwhelming approval to the firm's plan to go public. In addition, Goldman's co-chairman Jon Corzine said that he will leave the firm upon the closing of the public offering. Goldman's initial public offering (IPO) is schedule to be filed in a registration statement on March 16, 1999. Mr. Corzine previously resigned as the firm's co-chief executive officer in January 1999.

Comment:

Partners give overwhelming approval to the firm's plan to go public

Security brokers and dealers, Abstract, Securities industry, Securities

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