CommScope Falls 5%, Company Says Major Shareholder Sold 20 Million Shares

Shares of Commscope Holding Company Inc COMM were trading lower by more than 5 percent Tuesday morning after the company announced that a major shareholder, an affiliate of the Carlyle Group, priced the sale of 20 million shares of its common stock.

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The stock offering is being priced at $29.10 per share, a discount to Monday's closing price of $30.34.

Following the sale, Carlyle and its affiliates will own approximately 41.22 million shares, or approximately 21 percent of the entire company.

CommsSope Holding won't receive any of the proceeds from Carlyle's offering.