Five companies launched secondary offerings after hours on
Monday, sending shares lower.
Trulia Inc. (TRLA) plans to sell around $100 million of its
shares, expecting to use the proceeds to make acquisitions or
investments, and for other general purposes. The real-estate
listing service recently had a market capitalization of around $766
million. The stock was down 5.4% at $26.50 after hours.
Energy company Williams Partners L.P. (WPZ) plans to offer 10
million units representing limited-partner interests. At the same
time, the company will sell three million units to affiliate
Williams Cos. (WMB) in a private placement. Williams Partners
expects to have 411 million units outstanding after the offering,
and plans to use the proceeds to pay down debt. Shares dropped 3.2%
to $48.93 after hours.
Jazz Pharmaceuticals PLC (JAZZ) said that certain shareholders
plan to offer almost 5.4 million shares. The biopharmaceutical
company won't receive any proceeds from the sale, and its total
number of shares outstanding--roughly 57.9 million shares as of
early November--won't change. Shares fell 2.3% to $58.61 after
hours.
First Industrial Realty Trust Inc. (FR) has launched an offering
of 8.4 million shares, intending to use the proceeds to pay down
debt, acquire property or for other general purposes. The
real-estate investment trust had around 91.5 million shares
outstanding as of late December. Shares fell 2.1% in after-hours
trading to $16.
MRC Global Inc. (MRC) said that its biggest stockholder, PVF
Holdings LLC, has launched an offering of 17 million shares. The
sale will reduce PVF's stake in the company to around 38%, from
55%. MRC Global had 101.6 million shares outstanding as of Feb. 27.
The company, which distributes pipes, valves and fittings to the
energy and industrial sectors, won't receive any proceeds from the
sale. Shares were off 1.9% at $29.73 after hours.
Write to Kristin Jones at kristin.jones@dowjones.com
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