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Article: Goldman Sachs goes to market
- Article from:
- The Scotsman
- Article date:
- June 16, 1998
- Author:
CopyrightCopyright 1998 The Scotsman. Provided by ProQuest LLC. (Hide copyright information)
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GOLDMAN Sachs, the eminent Wall Street investment bank, is poised
to float part of the company on the stock market.
Goldman's six-man executive committee agreed unanimously to float
between 10 per cent and 15 per cent of the bank on the New York
Stock
Exchange this autumn provided the firm's 190 partners, who have
already expressed overwhelming support, approve a more detailed plan
to be proposed in the near future.
The investment bank is thought to be worth about $30 billion (GBP
18.4 billion) on the market compared with its book value of $6.3
billion and a listing will add greater fire power to the bank's
expansion ambitions.
Jon Corzine and Henry (Hank) Paulson, co-chairmen and co-chief ...