Och-Ziff stock price continues to fall

by

Och-Ziff Capital Management Group’s stock continues to trade below its listing price, dropping nearly 8.5% on Thursday to close at $28.05.

The hedge fund company’s stock priced at $32 per share late Tuesday, at the mid-point of its expected range, but promptly fell 4.2% in its first day of trading on Wednesday to close at to $30.65.

“Och-Ziff intends to use the proceeds from the initial public offering and the concurrent sale of $1.15 billion of Class A shares to Dubai International Capital to acquire interests in its business from its existing owners, including members of Och-Ziff’s senior management,” said