{"id":431912,"date":"2022-04-14T22:05:05","date_gmt":"2022-04-14T19:05:05","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/piano-maker-steinway-plans-to-launch-ipo-to-go-public\/"},"modified":"2022-04-14T22:05:05","modified_gmt":"2022-04-14T19:05:05","slug":"piano-maker-steinway-plans-to-launch-ipo-to-go-public","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/piano-maker-steinway-plans-to-launch-ipo-to-go-public\/","title":{"rendered":"#Piano maker Steinway plans to launch IPO to go public"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a373c82bc4a1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a373c82bc4a1\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/piano-maker-steinway-plans-to-launch-ipo-to-go-public\/#%E2%80%9CPiano_maker_Steinway_plans_to_launch_IPO_to_go_public%E2%80%9D\" >&#8220;Piano maker Steinway plans to launch IPO to go public&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CPiano_maker_Steinway_plans_to_launch_IPO_to_go_public%E2%80%9D\"><\/span>&#8220;Piano maker Steinway plans to launch IPO to go public&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>It might just be music to investors\u2019 ears.\u00a0<\/p>\n<p>Steinway, the famed 169-year-old piano maker, plans to go public.\u00a0<\/p>\n<p>The Astoria, Queens-based musical instrument manufacturer on Thursday submitted documents to the Securities and Exchange Commission indicating that it was planning to sell shares in an initial public offering on the New York Stock Exchange.\u00a0<\/p>\n<p>Paulson &amp; Co., the investment firm founded by billionaire John Paulson, acquired the company in 2013.\u00a0<\/p>\n<p>\u201cOver its 169-year history, Steinway has been forged on, and has pushed the boundaries of, the credo of its founder: \u2018To build the best piano possible,\u2019 \u201d the company said in its initial listing documents filed with the SEC.\u00a0<\/p>\n<p>In 2018, China\u2019s government-owned conglomerate China Poly Group Corp. offered $1 billion for the firm, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-04-14\/169-year-old-piano-maker-steinway-files-for-nyse-ipo?srnd=premium\">according to Bloomberg News<\/a>, though the offer wasn\u2019t accepted.\u00a0<\/p>\n<p>Once the company is listed, half of the voting power will be controlled by Paulson, according to the filing documents.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/steinway-piano-nyse-06.jpg?w=1024\" alt=\"The instrument maker is based in Astoria, Queens.\" class=\"wp-image-21905643\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/steinway-piano-nyse-06.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/steinway-piano-nyse-06.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/steinway-piano-nyse-06.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The instrument maker is based in Astoria, Queens.<\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>\u201cMany musical greats have endorsed the quality of our instruments and personally use our instruments on the brightest stages,\u201d the company said in the prospectus. \u201cSome of the biggest classical and pop icons of today, including Lang Lang and Billy Joel, and jazz legends such as Ahmad Jamal and McCoy Tyner, all chose Steinway time and again as the desired instrument to express their art.\u201d\u00a0<\/p>\n<p>Steinway Musical Instruments Holdings Inc. was founded by Henry Engelhard Steinway in 1853 after the German immigrant\u2019s arrival to Manhattan.\u00a0<\/p>\n<p>The company owns and operates factories in Astoria as well as Hamburg, Germany.\u00a0<\/p>\n<p>A grand piano made by Steinway ranges in cost from $60,000 to $340,000.\u00a0<\/p>\n<p>Steinway is profitable. Net income rose 14.4% to about $59.3 million for the year ended Dec. 31 from $51.8 million in 2020. Sales jumped about 30% to $538.4 million in 2021, the prospectus said.\u00a0<\/p>\n<p>The IPO is being led by Goldman Sachs, Bank of America and Barclays.\u00a0\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/04\/14\/piano-maker-steinway-plans-to-launch-ipo-to-go-public\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Piano maker Steinway plans to launch IPO to go public&#8221; It might just be music to investors\u2019 ears.\u00a0 Steinway, the famed 169-year-old piano maker, plans to go public.\u00a0 The Astoria, Queens-based musical instrument manufacturer on Thursday submitted documents to the Securities and Exchange Commission indicating that it was planning to sell shares in an initial&#8230;<\/p>\n","protected":false},"author":1,"featured_media":431913,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/steinway-piano-nyse-01-1.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[127989,73711,5007,39579,70360],"class_list":["post-431912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-4-14-22","tag-investments","tag-ipo","tag-music","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/431912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=431912"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/431912\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/431913"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=431912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=431912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=431912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}