Kodiak Gas Services dips as top shareholder EQT looks to cut stake again

Kodiak Gas Services

12/12/2024 12:37

** Shares of gas compression firm Kodiak Gas Services
 KGS.N  fall 1.5% to $42.90 premarket
    ** KGS announces secondary stock offering wherein Swedish
private equity firm EQT AB  EQTAB.ST  will sell 5.5 mln shares
    ** Goldman Sachs and J.P. Morgan are underwriters for the
offering     
    ** EQT last month also offloaded ~5.7 mln KGS shares in an
upsized secondary offering at $34.50    
    ** KGS has 87.6 mln outstanding shares and $3.81 bln market
capitalization - LSEG data    
    ** EQT is KGS' top shareholder with roughly 50% stake     
    ** As of last close, KGS shares have more than doubled YTD


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