Blackstone Blather

The Blackstone Group has set terms for its initial public offering, just one day after confirming that it would sell a $3 billion non-voting stake in its management company to the government of China.

The IPO terms work out to around 133.33 million common units being offered at between $29 and $31 per unit, which could net up to $4.13 billion. Blackstone also could offer an additional 20 million units at the underwriters’ discretion, which would bump the total up to $4.75 billion.

The China deal is being done in concert with the IPO, according to this news item we posted yesterday.