BUZZ-Brookfield Business Partners LP: Falls sharply in debut

Mon Jun 20, 2016 1:42pm EDT
 
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** U.S.-listed shares of Brookfield Business Partners LP , the private equity arm of Brookfield Asset Management Inc, down 23 pct at $22.53 in market debut; Toronto-listed shares down 17.32 pct at C$28.70

** U.S. stock falls as much as 25.2 pct to $21.90

** Brookfield Asset Management said in October it would spin off Brookfield Business Partners, but still holds 78 pct (bit.ly/28IVtQ4)

** U.S. stock hit high of $31.02 on June 17 in the unofficial gray market, where trading began on June 10

** Brookfield Asset Management shareholders got 1 BBU unit for every 50 shares of Brookfield, or 0.02 units for every BAM share (bit.ly/28JUOgm)