By Nathalie Tadena
LyondellBasell Industries NV (LYB) and National CineMedia Inc.
(NCMI) disclosed stock offerings on behalf of certain shareholders,
while Medley Capital Corp. (MCC) unveiled plans to sell some of its
shares to pay down debt.
Chemical and polymer maker LyondellBasell said Apollo Management
Holdings LP, which has been paring its stake in the company, is
selling 16 million shares. The company had 570.3 million shares
outstanding as of Aug. 30 and said the number of shares outstanding
won't change as a result of the offering. Apollo will reduce its
ownership stake from 8% to 5.2% after the offering, according to a
filing with the Securities and Exchange Commission. Shares slid
1.4% to $69.50 after hours.
National CineMedia said Regal Entertainment Group (RGC), one of
its founding members, plans to offer two million shares. The media
company, which had 55.4 million shares outstanding as of June 27,
won't receive proceeds from the sale. Regal will decrease its
ownership stake from 4.9% to 1.6%, without over-allotments. Shares
were off 2.7% to $17.78 after hours.
Medley Capital is offering six million of its shares to raise
funds for the repayment of debt, to fund new investment
opportunities and for general corporate purposes. The
management-investment company had 33.2 million shares outstanding
as of July 31. Shares were down 3.2% to $12.85 after hours.
Write to Nathalie Tadena at nathalie.tadena@wsj.com
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