KKR plans to raise $500m in IPO

Private equity firm Kohlberg Kravis Roberts & Co announced plans yesterday to issue new shares after it becomes a publicly traded US firm. The firm, which has long sought a US listing, said it will sell $500m (£336m) worth of new stock in a US offering. The regulatory filing did not say how many shares the firm hoped to sell or give an expected price range, but did say the proceeds would be used to grow its business.