Hertz Global Holdings Inc. (HTZ) and Kinder Morgan Energy
Partners L.P. (KMP) were among companies that unveiled share or
unit offerings after hours.
Hertz said that its three biggest stockholders are selling 50
million shares. Funds affiliated with Clayton Dubilier & Rice
Inc., Carlyle Group L.P. (CG) and Bank of America Corp.'s (BAC)
Merrill Lynch recently held a 38% stake in the company, or around
160 million shares. After the offering, the funds will continue to
hold a roughly 26% interest in the car rental company. Hertz won't
receive any proceeds from the sale. Shares fell 2.9% after
hours.
Kinder Morgan is offering 3.9 million units as it seeks to pay
down commercial paper debt. The pipeline operator recently had
around 246.1 million units outstanding. Units fell 2.5% after hours
to $78.48.
Graphic Packaging Holding Co. (GPK) said certain shareholders,
who weren't named, are offering 16.5 million shares. The paperboard
packaging company won't receive any proceeds from the offering, and
has agreed to buy back up to $300 million of the shares offered.
The company recently had around 393.7 million shares outstanding,
according to FactSet. Shares were off three cents in after-hours
trading at $6.24.
Platinum Group Metals Ltd. (PLG, PTM.T) is offering shares to
raise around 180 million Canadian dollars, or $182.3 million. The
platinum mining company intends to use the proceeds for purposes
including developing its WBJV Project 1 platinum mine and
exploration and engineering at the Waterberg project. Shares closed
Monday at 95 cents and were unchanged after hours.
Write to Kristin Jones at kristin.jones@dowjones.com
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