April 10, 2009

Goldman Sachs Equity Offering

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Goldman Sachs Equity Offering

Goldman Sachs Group is considering a multibillion-dollar equity offering as the investment bank tries to repay a $10 billion investment it got from the U.S. government in the midst of the financial crisis last year, The Wall Street Journal reported Friday.
The share sale, which could be announced as early as next week, comes as the firm prepares to report "solid" first-quarter earnings Tuesday. Goldman (GS:
Goldman Sachs Group Inc
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4:00pm 04/09/2009
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GS 124.33, +9.58, +8.4%) executives haven't determined the exact size of the offering, but it is expected to be at least several billion dollars, the newspaper reported, citing unidentified people familiar with the matter.
Goldman Sachs spokesman Ed Canaday declined to comment on the equity offering.

If a Goldman Sachs equity offering succeeds, that may suggest private investors are becoming more willing to invest equity capital in the U.S. banking sector. That appetite has been sorely lacking in the past year, as the financial crisis pushed several firms into bankruptcy or into the arms of the government.

Goldman Sachs Equity Offering

Posted at April 10, 2009 11:48 AM