March 5, 2019 / 3:39 PM / 9 months ago

BUZZ-GrafTech Int'l: Slides as Brookfield looks to lighten up

** GrafTech International down 10.4 pct at $12.75 as Brookfield Asset Management looks to trim its stake in graphite electrodes maker

** Affiliate of Brookfield Business Partners LP, a co of BAM, selling 17.5 mln shares

** Sale would cut Brookfield’s holding from 229.4 mln shares to 209.3 mln shares, or from a 79 pct stake to 72 pct, if full overallotment option is exercised

** JP Morgan and Credit Suisse leading 6-firm underwriting group for offering which is slated to price Weds AMC

** EAF shares have fallen 4 of past 5 sessions, racking up 15 pct of losses along the way

** Recent slide knocks stock back below its Apr 2018 IPO price of $15

** All 5 covering analysts recommend buying EAF with median PT of $21 (Refinitiv data)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below