Three companies, including chemical maker LyondellBasell
Industries N.V. (LYB), launched share offerings after the market
closed Thursday.
Prospect Capital Corp. (PSEC) is offering 35 million shares as
the investment company seeks to repay its debt or invest in
short-term debt instruments. The company recently had around 174.5
million shares outstanding. Shares fell 6.4% to $11.16 in
after-hours trading.
LyondellBasell Industries said selling shareholders affiliated
with Apollo Management Holdings L.P. are offering 20 million
shares. As of June 30, Apollo Capital Management had a 29.8% stake
in the company, with around 171.1 million shares, according to
FactSet. LyondellBasell, a chemical company, recently had around
575.2 million shares outstanding. The company won't receive any
proceeds from the sale, and the total number of LyondellBasell
ordinary shares won't change as a result of the offering. Shares
were down 16 cents after hours at $54.89.
Eloqua Inc. (ELOQ) is launching an offering of six million
shares by selling stockholders. Eloqua, a marketing-software
provider, won't receive any proceeds from the sale. The company
recently had around 34 million shares outstanding. Shares were
unchanged after hours at $24.65.
Write to Kristin Jones at kristin.jones@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires