KKR Financial Corp., a San Francisco-based specialty financing company that invests in mortgage-related assets among others, has priced an initial public offering of approximately 33.33 million shares of common stock at $24 per share.The offering included 28,750 shares being sold by existing stockholders. The company's shares began trading June 24 on the New York Stock Exchange under the ticker symbol "KFN." KKR said it has granted the underwriters an option to buy up to 4.17 million additional shares to cover any overallotments. The joint book-running managers of the offering are Citigroup Global Markets; Bear, Stearns & Co.; Credit Suisse First Boston; Lehman Brothers; J.P. Morgan Securities; and Friedman, Billings, Ramsey & Co.

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