Open

Coming up

Don't miss

Replay


LATEST SHOWS

DEBATE

Iraq's Christians - Nowhere to Run? (part 2)

Read more

DEBATE

Iraq's Christians - Nowhere to Run?

Read more

MEDIAWATCH

Towards a "Third Intifada"?

Read more

FOCUS

What solutions for California's overcrowded prisons?

Read more

MIDDLE EAST MATTERS

Gaza conflict: Palestinians mark sombre Eid

Read more

WEB NEWS

Celebrities in the Israel-Gaza crossfire

Read more

IN THE PAPERS

Israeli strike takes out Gaza power station

Read more

IN THE PAPERS

French newspaper apologises for Sarkozy story

Read more

BUSINESS DAILY

Last-ditch talks aim to avert Argentina default

Read more

  • Deadly strike hits Gaza market despite four-hour 'truce'

    Read more

  • Russia defiant as US, EU unveil 'phase three' sanctions

    Read more

  • Argentina fails to reach deal with holdout creditors

    Read more

  • Liberia shuts all schools as Ebola virus spreads

    Read more

  • US House votes to sue Obama for over-reaching his powers

    Read more

  • Suspect in Jewish Museum attack charged with 'terrorist' murder

    Read more

  • Women should not laugh in public, Turkey's deputy PM says

    Read more

  • Fourth female suicide bomber targets Nigerian city

    Read more

  • US rebounds to 4% growth in second quarter

    Read more

  • Video: Coping with rocket attacks in Israel’s Sderot

    Read more

  • Rats on the rampage at Louvre museum gardens

    Read more

  • France evacuates nationals, closes embassy in Libya

    Read more

  • 'Compelling' signs Kosovo leaders trafficked organs, prosecutor says

    Read more

  • Graphic: Ebola spreads across West Africa

    Read more

  • Video: How tourism is helping Rwanda’s gorillas, ex-poachers

    Read more

  • Islamists seize key Benghazi army base as fire rages on

    Read more

Americas

Empire State Building lists on NY stock exchange

© afp

Text by FRANCE 24

Latest update : 2013-10-02

New York City's landmark Empire State Building listed on the New York Stock Exchange for the first time on Wednesday after months of delays due to legal challenges from shareholders who opposed plans to go public.

The real estate trust that owns New York City's landmark Empire State Building listed on the New York Stock Exchange for the first time on Wednesday after months of delays due to legal wrangling.

The Empire State Realty Trust, which owns the iconic skyscraper as well as 17 other commercial buildings in New York and Connecticut, began trading under "ESRT" at an introductory price of $13 per share, which rose to $13.39 in heavy midday trading.

Malkin Holdings real estate investors, which administers the Empire State Building, filed the paperwork to take the venture public in February 2012, but it was delayed by several months due to legal challenges brought by a small group of stakeholders who opposed the IPO plan, saying the move would saddle them with an unfair tax burden.

A New York judge in May backed a $55 million settlement between the Malkins and disgruntled shareholders.

Malkin bought the Empire State Building from Donald Trump and another business partner for $57.5 million in 2002.

At 381 metres (1,250 feet) and with 102 floors, the Art Deco building became New York's second-tallest building after the May opening of One World Trade Center, which is 541 metres high.

It was the world's tallest building from 1931 until 1974, when it was overtaken by the 442-metre-tall Sears Tower in Chicago.

(FRANCE 24 with wires)

 

Date created : 2013-10-02

  • USA

    Gunman kills ex-colleague in Empire State shooting

    Read more

COMMENT(S)