LyondellBasell (LYB) Announces 16.5M Common Secondary Offering

LyondellBasell (NYSE: LYB) announced the commencement of an underwritten public offering of 16.5 million ordinary shares by certain selling shareholders that are affiliates of Apollo Management Holdings L.P.

The selling shareholders will agree 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.

Barclays Capital Inc. is acting as the sole underwriter for the offering.

Separately, the selling shareholders have advised the Company that they have agreed to sell 8.5 million ordinary shares in a private transaction.

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