GrafTech slides as Brookfield to cut stake

Brookfield Business Partners LP

25/05/2021 13:18

** GrafTech International  EAF.N  shares down ~5% at $13.07
premarket as top investor Brookfield looks to reduce its
holdings
    ** Graphite electrodes maker late Mon said Brookfield Asset
Management  BAMa.TO  to sell 20 mln shares  urn:newsml:reuters.com:*:nBwqSyjMa
    ** Sale would take Brookfield's holdings to ~64.9 mln
shares, reducing its stake by 8% to ~24%, per SEC filing https://www.sec.gov/Archives/edgar/data/931148/000119312521171123/d180597d424b7.htm#supptx180597_8
    ** JP Morgan sole underwriter for offering
    ** In Mar, Brookfield sold 30 mln shares in secondary
offering priced at $11.88  urn:newsml:reuters.com:*:nL2N2L00Z4
    ** EAF shares up 29% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own.)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))