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Goldman raises $4B
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August 1, 2000: 6:59 p.m. ET
Secondary offering sells 40M shares at $99.75 each; public now holds 27%
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NEW YORK (CNNfn) - Goldman Sachs Group Inc. sold about $4 billion worth of shares Tuesday in one of the biggest secondary stock offerings from a Wall Street investment bank.
Goldman Sachs, a premier underwriter, priced 40 million of its own shares at $99.75 each, nearly $1 below their closing price of 100-5/8 on Tuesday.
 In May 1999, Goldman Sachs was one of the last investment banks to go public in a $3.7 billion initial public offering, ending 130 years as a private firm.
So far in 2000, Goldman Sachs has dropped to No. 2 in the global mergers and acquisition market. Goldman advised on 195 deals valued at $704.6 billion, or 37.4 percent of all deals. Rival Morgan Stanley Dean Witter emerged as the top underwriter, advising on 227 deals worth nearly $780.8 billion, or 41.5 percent of the global market, according to data from Thomson Financial Securities Data Publishing.
Goldman's share sale on Tuesday raised about $1.64 billion for 150 current and former Goldman partners. Goldman's former co-chief executive Jon Corzine, the Democratic candidate in the New Jersey U.S. Senate race, raised about $41 million after selling about 10 percent of his stake.
The sale expands the number of shares held by the public to about 27 percent.
The deal also includes a "greenshoe" where underwriters have a 30-day option to buy up to 6 million shares to cover over-allotments. 
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Goldman Sachs Group
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