Carlyle Raises $671M In IPO After Knocking Down Price

Law360, New York (May 3, 2012, 9:28 PM EDT) -- Private equity firm The Carlyle Group LP raised $671 million in its initial public offering Thursday after lowering its share price Wednesday from its initial $23 to $25 range.

The company's offering of 30.5 million, or 10 percent, of its shares began trading at $22 per share on Nasdaq, inching up to just $22.05 by the end of the day Thursday.

Carlyle said it intended to use the proceeds from the IPO to repay debt and for general corporate purposes, including operational needs, growth initiatives and...
To view the full article, register now.