April 15, 2022 I Finance
Steinway Files for New York Stock Exchange IPO
Steinway Musical Instruments has filed to go public through an initial public offering, Bloomberg News has reported.
The New York-based piano maker submitted documents to the Securities and Exchange Commission on April 14 indicating it was planning to sell shares in an initial public offering on the New York Stock Exchange.
Investment firm Paulson & Co. acquired Steinway in 2013, and the proceeds of the IPO will go to selling shareholders, including Paulson, who will control more than half of the company’s voting power after the listing.
According to Bloomberg, Goldman Sachs Group Inc., Bank of America Corp. and Barclays Plc are leading the offering. Steinway plans to list on the NYSE under “STWY.”
