GrafTech Shares Drop 10% as Brookfield Affiliate Plans Offering
By Chris Wack
GrafTech International Ltd. shares were down 10% to $10.50 after
the company said an affiliate of Brookfield Asset Management Inc.
and Brookfield Business Partners LP intends to offer 20 million
shares of GrafTech common stock in an underwritten secondary
The company said the selling stockholder would receive all of
the net proceeds from the offering. GrafTech isn't offering any
shares of common stock in the offering.
Volume for the stock was 3.3 million shares at 11:10 a.m. ET,
compared to its 65-day average volume of 1.7 million shares.
Write to Chris Wack at email@example.com
(END) Dow Jones Newswires
January 15, 2021 11:28 ET (16:28 GMT)
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