Icahn Enterprises falls on $400 mln equity raise plans

Icahn Enterprises LP

26/08/2024 14:27

** Icahn Enterprises LP  IEP.O  shares fall 2.1% to $15.56
premarket as co looks to raise equity
    ** Firm owned by billionaire investor Carl Icahn files to
sell up to $400 mln depositary units in "at-the-market" offering
program to be handled by Jefferies  JEF.N 
    ** IEP to use any net proceeds from offering to fund
potential acquisitions and other corp purposes
    ** Co has ~457.46 mln units outstanding for ~$7.6 bln market
cap
    ** Last week, IEP settled SEC charges that Icahn for years
failed to disclose pledging majority of firm's securities for
billions in personal margin loans, together agreeing to pay $2
mln in penalties, U.S. regulators said
    ** Through Fri close, IEP units down 7.6% YTD. They ended
2022 at $50.65

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))