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 offering.

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 chris.wack@wsj.com

 

(END) Dow Jones Newswires

January 15, 2021 11:28 ET (16:28 GMT)

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