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RIA Novosti

Business

Goldman Sachs hopes to attract $5 billion from common stock sale

Topic: Global financial crisis

22:01 24/09/2008
MOSCOW, September 24 (RIA Novosti) - Leading global investment banking, securities and investment management firm Goldman Sachs Group, Inc., hopes to attract $5 billion after an initial public offering of 40.65 million common shares at $123 per share, the company said Wednesday.

"This offering, combined with the recently announced $5 billion strategic investment by Berkshire Hathaway Inc. in the form of perpetual preferred stock, brings total capital raised to $10 billion," the group said in a press release.

"In addition, Berkshire Hathaway Inc. will receive warrants to purchase $5 billion of common stock with a strike price of $115 per share, which are exercisable at any time for a five year term," it said.

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