LyondellBasell (LYB) Announces 20M Secondary Offering
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LyondellBasell (NYSE: LYB) today announced the commencement of an underwritten public offering of 20 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 of their ordinary shares (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.
Deutsche Bank Securities is acting as the sole underwriter for the offering.
The selling shareholders will agree to a lock-up of their ordinary shares (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.
Deutsche Bank Securities is acting as the sole underwriter for the offering.
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