KKR - KKR & Co. Inc.
27.47 0.00 (0.00%)
After hours: 6:05PM EDT
| Previous Close | 27.79 |
| Open | 27.73 |
| Bid | 26.95 x 800 |
| Ask | 27.45 x 800 |
| Day's Range | 27.41 - 28.05 |
| 52 Week Range | 18.30 - 29.95 |
| Volume | 1,821,711 |
| Avg. Volume | 2,816,647 |
| Market Cap | 23.146B |
| Beta (3Y Monthly) | 1.69 |
| PE Ratio (TTM) | 10.11 |
| EPS (TTM) | 2.72 |
| Earnings Date | Oct 29, 2019 |
| Forward Dividend & Yield | 0.50 (1.80%) |
| Ex-Dividend Date | 2019-08-02 |
| 1y Target Est | 32.43 |
- Reuters
UPDATE 1-PropertyGuru's Australian IPO cancelled because of market sentiment - chairman
Southeast Asia online realty company PropertyGuru is cancelling its initial public offering (IPO) in Australia because of market uncertainty, Chairman Olivier Lim said on Wednesday. On Tuesday, PropertyGuru - owned by Private equity firms KKR and TPG Capital - and its brokers offered shares at the lower end of a A$3.70 to A$4.50 indicated range, expecting to raise up to A$380.2 million.
- Reuters
Private equity firms TPG, KKR cancel PropertyGuru's Australian IPO -sources
Private equity firms KKR and TPG Capital have canceled the initial public offering (IPO) of their Southeast Asia online realty company PropertyGuru, due to uncertainty in the market, two sources with knowledge of the matter told Reuters. PropertyGuru and its brokers on Tuesday offered shares at the lower end of a A$3.70 to A$4.50 indicated range, expecting to raise up to A$380.2 million. On Wednesday, fund managers were told the IPO will not proceed, the sources said, making it the second canceled listing for the day and the fourth this month.
- Reuters
US investors look to specialty finance as interest drops in private credit
Investors who have binged on the US private credit market in the last few years are now turning to the growing specialty finance space where competition is less intense and spreads are more attractive. Because of the complexity of the lending structures, the specialty finance market is only a fraction of the size of cash flow lending, but investors are attracted to the potential for double-digit returns and the enhanced protection from asset collateralization. Specialty finance firms are non-bank lenders that make loans to consumers and small to midsize businesses, which may have difficulties obtaining financing otherwise.
- Reuters
REFILE-UPDATE 1-PropertyGuru finds support at lower end of IPO range - sources
PropertyGuru, the Southeast Asian online realty company, is offering shares at the lower end of the A$3.70 to A$4.50 indicated range as it takes orders for its Australian initial public offering (IPO), according to two sources close to the deal. A book message, seen by Reuters, sent to investors on Tuesday by the deal's joint lead managers, UBS and Credit Suisse, also says institutional demand is oversubscribed. Ahead of the deal, PropertyGuru had indicated the stock would be priced to institutional shareholders to raise up to A$380.2 million.
- Reuters
PropertyGuru leans towards lower end of IPO range - sources
PropertyGuru, the Southeast Asian online realty company, is offering shares at the lower end of the A$3.70 to A$4.50 indicated range as it takes orders for its Australian initial public offering (IPO), according to two sources close to the deal. Ahead of the deal, PropertyGuru had indicated the stock would be priced to institutional shareholders to raise up to A$380.2 million. "These firm allocations to retail brokers, combined with early orders and indications received from institutional investors prior to the formal opening of the bookbuild, are in excess of the deal size at the bottom end of the price range," the book message said.
- Barrons.com
National Vision Stock Is a Buy, Says Wall Street. Some Shorts Say Look Again.
National Vision Holdings has been the fastest-growing U.S. optical chain for a decade, with just about every broker calling the stock a Buy. Shares have fallen by half over the past year, however, and bearish investors are taking aim.
- PR Newswire
FSK Announces Earnings Release and Conference Call Schedule for Third Quarter 2019
PHILADELPHIA , Oct. 17, 2019 /PRNewswire/ -- FS KKR Capital Corp. (NYSE: FSK) announced today plans to release its third quarter 2019 results after the close of trading on the New York Stock Exchange on ...
- Reuters
United Group in talks to buy Bulgaria's Vivacom - sources
Balkan telecoms and media company United Group B.V. is in discussions to acquire Bulgaria's leading telecoms operator Vivacom, which went up for sale in July this year, two sources familiar with the matter said on Thursday. Vivacom's main shareholder, Bulgarian businessman Spas Roussev, confirmed in July that a sale process was underway and that Lazard had been hired to handle it. Market sources, at the time, estimated Vivacom's enterprise value to exceed 1.2 billion euros ($1.34 billion), including net debt of about 600 million euros.
- Reuters
KKR promotes senior partners to regional private equity co-heads
U.S. buyout fund KKR has tapped six of its most senior partners to share the leadership of its private equity operations in the Americas, Europe and Asia-Pacific as part of a new management structure. The New York-listed investment firm said in a statement on Wednesday it had promoted Pete Stavros and Nate Taylor to co-head its private equity unit in the Americas, reporting to KKR's co-president and co-chief operating officer Joe Bae. In Europe Mattia Caprioli and Philipp Freise, who both joined the firm in 2001, will take the helm of the private equity business while Hiro Hirano and Ashish Shastry will do the same in Asia Pacific.
- Business Wire
KKR Announces Leadership of Flagship Private Equity Businesses
Pete Stavros and Nate Taylor to Co-Head Private Equity in the Americas
- Bloomberg
Blackstone, KKR Join Race for India’s Emami Cement
(Bloomberg) -- Blackstone Group Inc. and a rival consortium led by KKR & Co. are considering bids for the cement unit of Indian cosmetics to paper conglomerate Emami Group, according to people with knowledge of the matter.TPG Capital is also weighing a bid for Emami Cement Ltd. and could look for a local partner, said one of the people, who asked not to be identified as the discussions are private. KKR is in talks to team up with Nirma Ltd., a maker of detergents, the people said.Emami Group has picked Arpwood Capital Ltd. and Credit Suisse Group AG to manage the sale of the cement unit, seeking a valuation of about $1 billion, Bloomberg News has reported. The Kolkata-based conglomerate led by R. S. Agarwal and R.S. Goenka is joining tycoons including Anil Ambani and Subhash Chandra in selling assets to pare debt as a cash crunch in Indian markets increase funding costs.Deliberations are ongoing and the private equity firms could decide against a bid, the people said. Representatives for Blackstone and TPG declined to comment, while representatives for Emami Group and KKR said they do not comment on market speculation. A representative for Nirma didn’t immediately respond to requests for comment.Emami Cement runs three manufacturing plants in India and is setting up another one in Kalinganagar, Odisha, according to its website. The company has more than 50 branches across the country, its website shows.(Updates to add background on Emami Cement in last paragraph)To contact the reporters on this story: Baiju Kalesh in Mumbai at bkalesh@bloomberg.net;P R Sanjai in Mumbai at psanjai@bloomberg.netTo contact the editors responsible for this story: Fion Li at fli59@bloomberg.net, ;Sam Nagarajan at samnagarajan@bloomberg.net, Anto AntonyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Bloomberg
Latitude Shelves Australia’s Biggest IPO of 2019
(Bloomberg) -- Latitude Financial Group Ltd. scrapped what would have been Australia’s biggest initial public offering of the year, sparking concerns that the future pipeline of IPOs in the nation may dry up.The non-bank consumer lender said in a statement Wednesday it wasn’t proceeding with the share sale, which could have raised about A$1.04 billion ($703 million), citing worries about how the company would trade on debut.“The board and shareholders were conscious of the importance of ensuring a strong after market for the company,” Chairman Mike Tilley said in a statement. “Latitude is a strong business and its management team will continue to execute on the growth strategy.”A lack of appetite for new listings might mean more companies hold off or seek private deals this year, according to Nicholas Guest, a Sydney-based partner at accounting and advisory firm HLB Mann Judd.“I can’t see too many CEOs or boards wanting to push themselves through this process if it’s uncertain,” he said in a phone interview. “If you don’t need to go to the public markets and you’ve got the ability to stay private for longer, you might see that now.”Latitude’s offering would have surpassed Magellan High Conviction Trust’s A$862 million IPO as Australia’s biggest this year, according to data compiled by Bloomberg. The company was scheduled to start trading on Friday.The shares were being offered at A$1.78 each, giving it a valuation of around A$3.2 billion, according to terms of the deal obtained by Bloomberg. The offer price was below an initial indicative range of A$2 to A$2.25. Goldman Sachs Group Inc., Macquarie Group Ltd. and UBS Group AG were lead managers of the deal.Latitude Financial is owned by KKR & Co., Värde Partners Inc. and Deutsche Bank AG, who bought it from GE Capital in 2015. The consumer-focused payments, installment and lending company deferred plans for an IPO a year ago, citing “external market considerations.”Tuesday’s book-build coincided with retail stocks in Australia tumbling on concerns about weak consumer sentiment, as the central bank warned it has yet to see any evidence that tax or rate cuts were boosting spending.Guest said there is also an overhang of caution in the Australian market from troubled IPOs elsewhere in the world, by firms such as office-sharing company WeWork and talent agency Endeavor Group Holdings Inc.(Updates to add comment from fourth paragraph)To contact the reporters on this story: Matthew Burgess in Melbourne at mburgess46@bloomberg.net;Harry Brumpton in Sydney at hbrumpton@bloomberg.netTo contact the editors responsible for this story: Edward Johnson at ejohnson28@bloomberg.net;Fion Li at fli59@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters
RPT-UPDATE 1-KKR consortium cancels Australia's Latitude IPO: sources
U.S. private equity firm KKR & Co and its partners have cancelled what was expected to be the biggest Australian IPO of the year, the listing of their lender Latitude Financial, two sources told Reuters. In what was to be their second attempt at listing in just over a year, KKR, Deutsche Bank and Varde Partners, decided to cancel the expected A$1 billion ($676.20 million) offering on Tuesday, because a large proportion of demand for shares was coming from hedge funds rather than desired long-term investors, the sources said. A Latitude spokesman declined to comment but said the company expected to make an announcement on Wednesday.
- Business Wire
KKR & Co. Inc. to Announce Third Quarter 2019 Results
KKR & Co. Inc. announced today that it plans to release its financial results for the third quarter 2019 on Tuesday, October 29, 2019, before the opening of trading on the New York Stock Exchange.
- Reuters
Canada's CPPIB to join KKR in building Axel Springer stake
Canada Pension Plan Investment Board (CPPIB) said on Tuesday it will invest at least 500 million euros ($551.95 million) in a KKR & Co Inc-owned holding firm conducting a public tender offer for the shares of German publisher Axel Springer. In August, KKR became the biggest shareholder of Axel Springer, paying 2.9 billion euros for a 43.54% stake. CPPIB said on Tuesday the investment by its European subsidiary will happen in the coming months and is subject to regulatory approvals.
- Reuters
KKR mandates banks for defence supplier Hensoldt's IPO - sources
Private equity firm KKR is advancing with preparations for a stock market flotation of German defence supplier Hensoldt in a deal potentially valuing the company at more than 2 billion euros ($2.2 billion), people close to the matter said. The buyout group is working with JP Morgan and Bank of America on potentially listing 20-30% of the company on the Frankfurt stock exchange, in a deal that could take place in the second quarter of 2020, they said. KKR and the banks declined to comment or had no immediate comment.
- Business Wire
Optiv Security Named a Leader in IDC MarketScape: U.S. Emerging Managed Security Services
-- Security solutions integrator recognized for client-focused outcomes and global delivery capabilities --
- Reuters
UPDATE 3-Latitude CEO disappointed KKR pulled IPO due to low price
Private equity giant KKR & Co and its partners cancelled what was to be Australia's biggest listing of the year, lender Latitude Financial, because investors would not pay a price that reflected its value, the Latitude CEO said on Wednesday. In what was to be their second attempt at listing in just over a year, KKR, Deutsche Bank and Varde Partners pulled the expected A$1 billion ($676.20 million) offering late on Tuesday, according to sources, even after finding buyers for all its shares. In an email to Latitude staff on Wednesday, reviewed by Reuters, Latitude Chief Executive Officer Ahmed Fahour confirmed the Initial Public Offering was cancelled but said the company would continue as a private enterprise.
- Bloomberg
Latitude Gauges Demand for Australia’s Biggest IPO in 2019
(Bloomberg) -- Latitude Financial Group Ltd., an Australian non-bank consumer lender, started gauging demand for its initial public offering, which could raise about A$1.04 billion ($706 million).The company’s shares are offered at A$1.78 each, giving it a valuation of around A$3.2 billion, according to terms of the deal obtained by Bloomberg. The offer price was below an initial indicative range of A$2 to A$2.25.Latitude’s offering would be Australia’s biggest this year, surpassing Magellan High Conviction Trust’s A$862 million IPO priced in August, according to data compiled by Bloomberg. Companies have raised A$5.5 billion via first-time share sales in Australia so far in 2019, compared to A$7.5 billion raised for the same period last year, the data shows.In 2015, KKR & Co. Inc., Värde Partners Inc. and Deutsche Bank AG acquired Latitude from General Electric Co. Latitude has 2.6 million customer accounts and supports more than 1,900 merchants across Australia and New Zealand, according to its website.After the listing, KKR will own 21.4% of the shares in Latitude, while Värde and Deustche Bank will hold 21.5% and 13.5%, respectively, the terms show.Latitude is expected to wrap up gauging demand of institutional investors by the end of Tuesday, with trading scheduled to start on Friday. Goldman Sachs Group Inc., Macquarie Group Ltd. and UBS Group AG are lead managers of the deal.(Updates to add background of Latitude from fourth paragraph)To contact the reporters on this story: Matthew Burgess in Melbourne at mburgess46@bloomberg.net;Harry Brumpton in Sydney at hbrumpton@bloomberg.netTo contact the editors responsible for this story: Fion Li at fli59@bloomberg.net, Edward JohnsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Bloomberg
Metro Hospital Delays What Would’ve Been the Largest Philippine IPO
(Bloomberg) -- The hospital venture of a Philippine investment group delayed what would’ve been the nation’s biggest initial public offering and instead will raise 35.3 billion pesos ($685 million) by selling shares to KKR & Co. and Singapore sovereign wealth fund GIC Pte.KKR and GIC will pay 5.2 billion pesos for a 2.7% stake in Metro Pacific Hospital Holdings Inc. and will also buy bonds worth 30.1 billion pesos, convertible into 239.93 million shares, according to a statement Tuesday. The deal will be completed by end-2019 and parent Metro Pacific Investments Corp.’s stake on a fully diluted basis will fall to 20% from 60%.“After much consideration, we believe we have found the best way forward for Metro Pacific Hospitals and Metro Pacific with this new partnership,” Metro Pacific President Jose Ma. Lim said in the statement.In Record $1.6 Billion Philippine IPO Plan, a Move to Tame DebtThe planned IPO, for which the company had already hired underwriters including a clutch of global banks, was aiming to raise as much as $1.6 billion. Facing $4.7 billion of debt, the group also faces large outlays for its toll-road, power-generation and light-rail projects over the next three years.Metro Pacific Hospital will use the 5.2-billion-peso investment to reach its target of 5,000 beds and 30 hospitals by 2030, President Augusto Palisoc said. The company now has 14 hospitals with 3,200 beds across the Philippines.Shares of Metro Pacific Investments were unchanged as of 10:23 a.m. in Manila, after earlier rising as much as 2.6%.\--With assistance from Clarissa Batino and Cecilia Yap.To contact the reporter on this story: Ian Sayson in Manila at isayson@bloomberg.netTo contact the editors responsible for this story: Cecilia Yap at cyap19@bloomberg.net, Sam NagarajanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Bloomberg
Behind a Record $1.6 Billion Philippine IPO, a Plan to Tame Debt
(Bloomberg) -- Follow Bloomberg on LINE messenger for all the business news and analysis you need.The hospital venture of a Philippine investment group delayed what would’ve been the nation’s biggest initial public offering and instead will raise 35.3 billion pesos ($685 million) by selling shares to KKR & Co. and Singapore sovereign wealth fund GIC Pte.KKR and GIC will pay 5.2 billion pesos for a 2.7% stake in Metro Pacific Hospital Holdings Inc. and will also buy bonds worth 30.1 billion pesos, convertible into 239.93 million shares, according to a statement Tuesday. The deal will be completed by end-2019 and parent Metro Pacific Investments Corp.’s stake on a fully diluted basis will fall to 20% from 60%.“After much consideration, we believe we have found the best way forward for Metro Pacific Hospitals and Metro Pacific with this new partnership,” Metro Pacific President Jose Ma. Lim said in the statement.In Record $1.6 Billion Philippine IPO Plan, a Move to Tame DebtThe planned IPO, for which the company had already hired underwriters including a clutch of global banks, was aiming to raise as much as $1.6 billion. Facing $4.7 billion of debt, the group also faces large outlays for its toll-road, power-generation and light-rail projects over the next three years.Metro Pacific Hospital will use the 5.2-billion-peso investment to reach its target of 5,000 beds and 30 hospitals by 2030, President Augusto Palisoc said. The company now has 14 hospitals with 3,200 beds across the Philippines.Shares of Metro Pacific Investments were unchanged as of 10:23 a.m. in Manila, after earlier rising as much as 2.6%.\--With assistance from Clarissa Batino and Cecilia Yap.To contact the reporter on this story: Ian Sayson in Manila at isayson@bloomberg.netTo contact the editors responsible for this story: Cecilia Yap at cyap19@bloomberg.net, Sam NagarajanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Bloomberg
Philippine Group Sells Hospital Shares to KKR, GIC; Delays IPO
(Bloomberg) -- The hospital venture of a Philippine investment group delayed what would’ve been the nation’s biggest initial public offering and instead will raise 35.3 billion pesos ($685 million) by selling shares to KKR & Co. and Singapore sovereign wealth fund GIC Pte.KKR and GIC will pay 5.2 billion pesos for a 2.7% stake in Metro Pacific Hospital Holdings Inc. and will also buy bonds worth 30.1 billion pesos, convertible into 239.93 million shares, according to a statement Tuesday. The deal will be completed by end-2019 and parent Metro Pacific Investments Corp.’s stake on a fully diluted basis will fall to 20% from 60%.“After much consideration, we believe we have found the best way forward for Metro Pacific Hospitals and Metro Pacific with this new partnership,” Metro Pacific President Jose Ma. Lim said in the statement.In Record $1.6 Billion Philippine IPO Plan, a Move to Tame DebtThe planned IPO, for which the company had already hired underwriters including a clutch of global banks, was aiming to raise as much as $1.6 billion. Facing $4.7 billion of debt, the group also faces large outlays for its toll-road, power-generation and light-rail projects over the next three years.Metro Pacific Hospital will use the 5.2-billion-peso investment to reach its target of 5,000 beds and 30 hospitals by 2030, President Augusto Palisoc said. The company now has 14 hospitals with 3,200 beds across the Philippines.Shares of Metro Pacific Investments were unchanged as of 10:23 a.m. in Manila, after earlier rising as much as 2.6%.\--With assistance from Clarissa Batino and Cecilia Yap.To contact the reporter on this story: Ian Sayson in Manila at isayson@bloomberg.netTo contact the editors responsible for this story: Cecilia Yap at cyap19@bloomberg.net, Sam NagarajanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters
UPDATE 2-KKR-led consortium invests $685 mln in Philippines' top hospital chain
MANILA/SINGAPORE, Oct 15 (Reuters) - A KKR-led consortium said it will invest $685 million in the largest hospital group in the Philippines, seeking to capitalise on growing demand for private healthcare in Southeast Asia. Under the deal, KKR and partner Singapore sovereign wealth fund GIC will spend $100 million to gain 6.25% of Metro Pacific Investments Corp's hospital business, with the remainder invested in mandatory exchangeable bonds.
- Business Wire
KKR Acquires Majority Stake in Hyperoptic
KKR, a leading global investment firm, today announced that it has completed the acquisition of a majority stake in Hyperoptic Ltd, the UK’s largest residential gigabit broadband provider, from funds managed by Newlight Partners LP (“Newlight”) and Mubadala Investment Company. Financial details of the transaction were not disclosed.
