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To: Lucretius who wrote (2203)	7/5/2000 10:43:26 PM
From: patron_anejo_por_favor	Read Replies (3) \| Respond to of 436258

Looks like the severe shortage in brokerage shares is about to be relieved: nytimes.com July 5, 2000 Goldman Sachs Files for Share Offering NEW YORK (Reuters) - Institutions and former partners with equity in Goldman Sachs Group, Inc. (GS.N) are set to sell 40 million of their shares in a secondary offering aimed at widening the Wall Street investment bank's investor base, Goldman said on Wednesday. The sale, which will not raise any cash for the firm, is aimed at increasing the portion of Goldman shares owned by the public and allowing other investors the chance to buy shares, as well as ensuring an orderly entry of shares into the market, Goldman said in a statement. The offering comes 14 months after Goldman's initial public offering (IPO) of 69 million shares last May, which raised $3.7 billion, one of Wall Street's largest-ever share sales. The IPO ended Goldman's 130 years as a private partnership. Now, about 17 percent of Goldman's 484 million outstanding shares are publicly held, compared to figures above 80 percent for Wall Street competitors Morgan Stanley (MWD.N) and Merrill Lynch (MER.N). The secondary offering, filed with the Securities and Exchange Commission on Wednesday, involves shares held by Goldman's two largest institutional investors, Sumitomo Bank Capital Markets, Inc. (8318.T) and Kamehameha Activities Association, and some of the firm's former partners. The sale comprises 12.6 million shares owned by Sumitomo, 11 million shares owned by Kamehameha, and 16.4 million shares held by former Goldman Sachs partners, including up to 4 million shares held by retired partners. Sumitomo and Kamehameha bought into the firm a decade ago, and sold 9 million shares each in the IPO last year. Goldman did not indicate the price range for the shares to be offered. Shares were sold in last year's IPO for $53 each, but have traded as high as $128 since. Goldman's shares closed at 95-15/16 on the New York Stock Exchange on Wednesday, before the new offering was announced. The offering is likely to be priced in early August, Wall Street sources said.