Goldman raising $5 billion in public stock offer

NEW YORK (AP) -- Goldman Sachs will sell $5 billion worth of common stock to the public as part of a capital-raising plan that also includes Warren Buffett's investment of at least $5 billion.

Goldman Sachs Group Inc. says it has priced the offering of 40.65 million common shares at $123 apiece.

The offer is double the amount Goldman said Tuesday night it would raise as part of a plan to boost its capital cushion in the wake of the bankruptcy of fellow Wall Street firm Lehman Brothers.

Warren Buffett's Berkshire Hathaway is buying $5 billion in preferred stock and will receive warrants to purchase an additional $5 billion worth of common shares over five years.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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