LyondellBasell Selling Holders Price Shares
LyondellBasell (NYSE: LYB) today announced the pricing of an underwritten public offering of 25 million ordinary shares by certain selling shareholders that are affiliates of Apollo Management Holdings L.P. The offering is expected to close Feb. 19, 2013, subject to the satisfaction of customary closing conditions.
The selling shareholders have agreed to a lock-up (subject to certain exceptions) for a period of 30 days after the date of the prospectus supplement for the offering. LyondellBasell will not receive any proceeds from the offering. The total number of LyondellBasell ordinary shares outstanding will not change as a result of the offering.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.