It's important for a few reasons. This is KKR's biggest equity bet ever.

會如此重要有幾個原因，這是KKR集團最大的產權投資標的。

This company was taken private back in 2007, as you said, in that era of big LBOs.

這家公司在2007年，也就是融資收購的高峰期間被收購回歸股份私有。

And they struggled through the recession; they replaced the CEO several times; finally brought in this guy called Mr. Fix-It on Wall street Frank Bisignano.

他們也在經濟大蕭條期間飽受挑戰，歷經了多次的執行長汰換，終於換上了在華爾街有疑難排解大師之稱的Frank Bisignano。

And he has been in control since 2013. Now KKR is looking to make some money back on their investment.

他自2013年開始接管公司，而此刻KKR集團對這項投資帶來的報酬的利潤抱持著信心與期待。

They put into 3.9 billion dollars in equity. Right now, as of the price range that came out this morning

他們投資了39億的股票。今早市場行情達高峰，

at the high end of the range, their stake is looking to be about 5.3 billion.

他們的股權現值上看53億。

So on the surface, it looks like they're winning here on this one, but that's kind of the stage here for how big of a bet this is for KKR,

表面上看來，KKR集團在這項投資中贏面相當大，然而同時也看出他們在這局中的賭注有多麼龐大。

and how much is riding on this IPO pricing and trading while going forward.

以及在公司邁向市場的同時，背後的首次公開募股定價與交易是多麼龐大。

It's interesting, you know, as we've seen all this market volatility, companies are still going public this year,

這十分地有趣，我們都知道這陣子的市場波動狀況，然而今年度公司仍持續上市其股份。

Jay, curious what other companies out there are at this level that have been going public this year?

杰，為什麼其他公司在今年這樣的現況下仍持續上市股票嗎?

There are a number of big deals in the pipeline with some well-known brand names, Ferrari, Albertens, Neiman Marcus,

這一票公司名單中有很多都是廣為人知的公司，像是法拉利、Albertens 、尼曼馬庫斯百貨，

as well as companies without real popular brand names, such as Pure Storage, but we're seeing a slowdown in bio-tech activity,

以及其他名聲不那麼大的公司，如 Pure Storage 科技公司。但在生物科技方面我們也看到了成長趨緩的現象。

with the decrease in bio-tech prices and energy offerings have largely dried up.

包括生物科技產值下降與能源供應大幅銳減。

So Alex, I know you've been crunching the numbers, flush that out for me in terms of the biggest IPO so far this year,

艾力克斯，我知道你相當善於精算與會計，能否列出今年目前最大宗的首次公開募股案例，

when it comes to, you know, general and tech focus.

並從一般大眾的觀點以及專業觀點來分析。

So the biggest is looking to be First Data, if they price at the high end of this range at 3.2 billion dollars for the offering,

最大宗的莫過於第一數據公司，假若他們最高市值達32億元，

that will top the charts in what's been a slower year for IPOs.

將在這成長緩慢的公開股票市場中創下新高。

Close behind is Digicel which has set terms. That's a Carribean Tell Co. company that's majority owned by the billionaire Dennis O'Brien.

望其項背的是 Digicel ，為加勒比海一帶的電信公司，絕大多數股份由億萬富翁丹尼斯所持有。

He's an Irish billionaire. That offering size is looking to be about 2 billion.

Dennis O'Brien 是愛爾蘭裔，發行規模上看兩億元。

There are some other companies in the mix: Tallgrass Energy, Univar, Blue Buffalo, and Fitbit,

這一票公司還包含了 Tallgrass Energy, Univar, Blue Buffalo 以及 Fitbit 等，

that kind of are behind those two names.

都是緊追在前兩名之後的公司。

But as you can tell, not as big of the year as last year, we did have Alibaba in the third quarter of last year,

如你所見，今年的成長不如去年，像去年第三季阿里巴巴出現了

and that 25 billion-dollar offering really tip the charts to make it a hard comp(etition) for 2015.

高達約250億的出售額對今年來說是個很大的挑戰。

Now, Jay you mentioned Pure Storage, they're looking at an IPO next week. 450 million dollars.

杰，你剛提到 Pure Storage 公司，他們下週的公開募股出售額預計達4億五千萬元。

Talk to us about what's coming up for the rest of the year. We were talking about square earlier in the show.

稍早我們在節目中提到倫敦金融城，你認為下一年會有什麼樣的市場發展?

It all depends upon what happens with the stock market, as many people have noted,

這端看未來的股票市場會如何發展，如大家所說

a lot of tech companies have been finding it very easy to get a lot of private financing,

很多的科技公司認為取得私人融資是相對容易的，

not only from venture capitalist, but also from neutral funds that are willing to invest in private companies.

像是股票投機客及中立基金都相當樂於投資在私人企業上

So I think they're gonna be very sensitive to public market valuations.

因此我認為公開市場評價將對此有影響

If the stock market goes up, then they'll tap the public equity markets.

若股票市場正向成長，將會同時開啟公開資產市場。

And if not, a lot of them will buy their time.

若沒有呈正向成長，很大一部分的投資客便會爭取時間。