KKR says IPO still on track(2)

KKR has refuted a UK media report that the buyout firm has postponed its planned $1.25 billion IPO on the New York Stock Exchange.

Kohlberg Kravis Roberts has taken the unusual step of refuting a media report and said it is moving forward with plans to float its management company on the New York Stock Exchange.

“As evidenced by the recent filing of an amendment to the registration statement, we are continuing to work on the IPO and have not postponed,” a KKR spokesman has said.

Though UK paper The Times’ online report included this statement from KKR, the newspaper still said the buyout firm had postponed its $1.25 billion (€927 million) initial public offering because of credit market turmoil.

Earlier this week Carlyle Group co-founder David Rubenstein said his firm would not consider listing publicly this year, in light of current credit market conditions which he said may take several months to settle down.

A Carlyle spokesperson told PEO: “We’ve been looking at a flotation but it is unlikely this year. It may come in the next two to three years, although it is not guaranteed.”

This week, both Carlyle and KKR had to infuse capital into mortgage-related vehicles suffering losses.