Pricing for Cobalt International Energy came in below expectations. Reuters reported:
The Houston-based company sold 63 million shares for $13.50, each, and raised roughly $850.5 million. It had expected to sell shares for between $15 to $17. The funds backing the company are affiliated with Goldman Sachs & Co, and private equity firms Riverstone Holdings LLC and The Carlyle Group.Riverstone and Carlyle settled "pay for play" investigations with the New York attorney general Andrew Cuomo for a combined $70 million.
Cobalt's underwriters are led by Credit Suisse and Goldman Sachs & Co.
Credit Suisse may pay $536 million for illegal financial dealings with Iran. IPO's and fines: who knew they went together?
