With all of the turmoil in the stock market, not to mention the broader economy, now, it’s not surprising that KKR says it’s pushing its much-delayed IPO back to 2009.
Portfolio: K.K.R. Private Equity Investors, an affiliate of the firm that trades in Amsterdam, was to have merged with its parent and begin trading on the New York Stock Exchange this year. Under that deal, shareholders would have held 21 per cent of the merged entity, with K.K.R. executives holding the rest.
Today the affiliate announced that the merger would not happen until next year.
The delay was announced as K.K.R. Private Equity, or K.P.E., released results that showed a net investment loss of $27.2 million for its third quarter. Its net asset value fell to $18.85 per share at the end of September, from $24.36 at end of 2007.
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