KKR & Co. says shares to trade on NYSE starting July 15, reveals ownership structure

KKR & Co. shares to trade on NYSE on July 15

NEW YORK — KKR & Co. LP, the parent of private equity firm Kohlberg Kravis Roberts, said Tuesday that it will list its shares on the New York Stock Exchange on July 15.

The company also revealed details on the ownership structure and compensation of founders Henry Kravis and George Roberts, who together hold a majority of shares with voting rights.

KKR said in a filing with the Securities and Exchange Commission that it will register 204.9 million common units worth about $1.93 billion. The shares will trade in on the NYSE under the symbol “KKR.”

KKR originally sought a public listing in the U.S. in July 2007, hoping to raise up to $1.25 billion, after competitor Blackstone Group LP raised $4.1 billion in an initial public offering. KKR shelved that plan due to the financial crisis.

Instead, KKR merged with its European arm, now known as KKR Guernsey, and the combined company began trading on the Euronext Amsterdam in October 2009. KKR Guernsey will be dissolved and cease to trade in Amsterdam when KKR begins trading in the U.S. Guernsey stockholders will swap their shares for units in the U.S.-listed company.

In the SEC filing, KKR said Kravis and Roberts, co-chief executive officers, each own a 13 percent stake in the company, or about 87 million shares apiece. Their stake is worth a combined $1.6 billion based on Tuesday’s closing share price of $9.44 for KKR Guernsey.

For 2009, Kravis and Roberts each received a salary worth $250,000 and an additional $22 million each in “distributions,” or shares of the firm’s profits.

KKR buys companies and then sells them to the public or other investors. In November, it took discount retailer Dollar General Corp. public, although it retained a majority stake. In January, it acquired British pet retailer Pets At Home. Its holdings include retailer Toys ‘R’ Us Inc., hospital operator HCA Inc., mattress maker Sealy Corp. and software company SunGard Data Systems Inc.

As of March, KKR had assets under management of $54.7 billion.