LyondellBasell Industries NV (LYB) Message Board

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Gold/Mining/Energy : LyondellBasell Industries NV (LYB)

LYB 45.93

-1.7%

11:45 AM EDT

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From: Savant	8/7/2013 4:09:07 AM
	of 98

LyondellBasell Secondary Offering Prices at 1% Discount By Billy Crosby LyondellBasell (LYB) said an offering of 16.5 million shares, on behalf of certain shareholders who are affiliates of Apollo Management Holdings L.P., priced at $68, a 1% discount to Wednesday's close. The offer is expected to close on Aug. 6 and LyondellBasell will not receive any proceeds from the sale. The company recently had 575.5 million shares outstanding, and Apollo recently owned about a 46% stake in LyondellBasell, according to FactSet. The chemical and polymer maker's second-quarter earnings rose 21% from a year-earlier period that was bogged down by charges, while core earnings and revenue declined. Shares closed Wednesday at $68.71 and were down 56 cents in premarket trading. The stock is up 55% over the past 12 months. Write to Billy Crosby at william.crosby@wsj.com

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