August 9, 2018 / 12:10 PM / 3 months ago

BUZZ-GrafTech Int'l: Drops on pricing upsized secondary offering

** Shares of mining products maker down 4.5 pct at $20.40 premarket on pricing an upsized offering by a majority stockholder

** Size of common stock offering raised to 23 mln from 20 mln shares

** Offering priced at $20 a piece, a 6 pct discount to stock’s last closing price

** Selling shareholder an affiliate of Brookfield Business Partners LP, which is a company of Brookfield Asset Management

** In addition, GrafTech will buyback 11.7 mln shares from Brookfield and expects to fund the repurchase from cash on hand

** Brookfield Asset Management, which took GrafTech public in April, has a 87 pct stake in the company

** Co has 302.2 mln outstanding shares per TR data

** Stock up 42 pct from its $15 IPO price (Reporting by Medha Singh in Bengaluru)

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