Empire State Building goes public

More than 80% of Empire State Building’s stakeholders have voted in favour of an IPO, which is expected to raise $1 billion, says the New York Times’ DealBook.

By Staff | May 30, 2013 | Last updated on May 30, 2013

1 min read

More than 80% of the Empire State Building’s stakeholders have voted in favour of an IPO, which is expected to raise $1 billion, says the New York Times’ DealBook.

The plan’s approval comes after a lengthy tug of war between Peter L. Malkin and his son Anthony E. Malkin, real estate moguls with minority ownership of the tower, and a group of stakeholders who argued a public offering could expose investors to greater risk while lining the Malkins’ pockets. The Malkins’ stake is valued at $730 million.

Ontario DB plan solvency ratios remained stable in Q4

Tech roundup: Toronto wealthtech launches AI operating system

Big banks boast strong first quarter: Fitch