KKR withdraws plan for $500m offering

KKR has decided to withdraw its proposed public offer of $500m, less than a month after finally listing in New York.

The private equity group made the announcement as it reported economic net income of $433m for its second quarter, down 29.4 per cent from $613.5m on a pro forma basis from a year ago.

“They missed the window of opportunity, they don’t need the money and they still have the option at a later date,” said one person familiar with the matter.

Read Full Article from Financial Times

- Posted: 2010-08-09 22:06:42

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