Kodiak Gas Services dips as PE firm EQT looks to cut stake

Kodiak Gas Services

14/11/2024 23:11

** Shares of gas compression firm Kodiak Gas Services
 KGS.N  fall 1.1% to $35.40 after the bell
    ** KGS commences public offering of ~4.9 mln shares that are
worth $173.8 mln based on the stock's last close
    ** All shares are being sold by Swedish private equity firm
EQT AB
    ** KGS plans on purchasing $15 mln worth shares from EQT AB
in a private transaction at the public offering price
    ** Share repurchase from EQT AB is dependent upon the
closing of the public offering - KGS
    ** Barclays, Goldman Sachs and J.P. Morgan are the joint
book-running managers for the Offering
    ** KGS has 87.6 mln outstanding shares for $3.13 bln market
capitalization - LSEG
    ** As of last close, KGS shares up 78.3% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))