Anthony and All
Has anyone gathered info on Goldman Sachs' upcoming IPO? I'm thinking about trying to participate even if I have to open an account with another full service broker. I'd appreciate any thoughts on this subject.
Sincerely,
Aegis
Here's what I got so far:
FOR IMMEDIATE RELEASE
Monday, March 8, 1999
Goldman Sachs to Pursue an Initial Public Offering
NEW YORK - The partners of The Goldman Sachs Group, L.P. today overwhelmingly approved a plan to pursue an initial public offering of the firm. This decision follows the announcement on March 3, 1999, of the firm's intention to present a detailed proposal for an initial public offering to the partners for their consideration.
A registration statement relating to the offering is expected to be filed March 16, 1999. Such an offering will be made only by means of a prospectus included in the registration statement.
Jon S. Corzine and Henry M. Paulson, Jr., Co-chairmen of the firm, commented in a joint statement, "This strong consensus among the partners and throughout the firm will permit us to move confidently toward our future as a public company. We are taking this step to secure permanent capital to grow; to share ownership broadly among our employees now and through future compensation; and to permit us to use publicly traded securities to finance strategic acquisitions that we may elect to make in the future."
At the partners' meeting, Jon S. Corzine, Co-chairman, said, "The historic imperative of matching our capital structure to a bold vision of organizational excellence must be fulfilled." He added, "The completion of the public offering will mark a logical and appropriate point for me to move on in my career and life. As of the closing of the offering, I will stand down from my remaining duties within the firm."
Henry M. Paulson, Jr., Co-chairman and Chief Executive Officer, commented in a statement, "We deeply appreciate Jon Corzine's vision in preparing the firm for this moment in its history. We thank him for his leadership and grace."
Henry M. Paulson, Jr. today also announced that the initial Board of Directors for The Goldman Sachs Group, Inc. will include the following inside Directors: Henry M. Paulson, Jr., Robert J. Hurst, John A. Thain, John L. Thornton, and John L. Weinberg. Mr. Paulson went on to say that the firm anticipates the appointment of three outside Directors.
John L. Weinberg has served the firm for 49 years, most recently as senior chairman, a position he assumed in December 1990. From 1984 to 1990, he was senior partner and chairman, after having previously served from 1976 to 1984 as senior partner and co-chairman. During his tenure with Goldman Sachs, Mr. Weinberg was responsible for forging some of the firm's most important and enduring client relationships.
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The Goldman Sachs Group, L.P. is a leading international investment banking and securities firm, providing a full range of investing, advisory, and financing services to corporations, governments, institutions, and substantial individuals worldwide. Founded in 1869, it is one of the oldest and largest investment banking firms. Goldman Sachs is headquartered in New York and has 41 offices in 23 countries around the globe.
PS. Anthony, Thanks for bringing PCNTF to my attention. I cashed out at 39 7/8 yesterday before the late day run up. I was in from 29 1/2 avg. |
