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Posted on: Thursday, February 8, 2001
Estate to sell Goldman stock
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Advertiser Staff and News Services
Kamehameha Schools has filed with the Securities and Exchange Commission yesterday to sell 1.5 million shares of Goldman Sachs common stock. The estate said it expects the sale will earn about $168 million, based on Monday’s closing price of $112.10 a share. The transaction will leave Kamehameha Schools with 9.5 million shares, or a 2 percent stake in the investment banking firm, making it the third-largest institutional shareholder.
Since Goldman Sachs initial public offering in May 1999, the estate has earned more than $1.7 billion from the sale of its stock. Kamehameha Schools also earned about $900 million in partnership distributions prior to the IPO.
Kamehameha Schools, a $6 billion trust, is Hawai‘i’s largest private landowner. It was established in 1884 to educate children of Native Hawaiian ancestry.
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