RMR Group slumps to 2-1/2-year low on secondary offering

RMR group

27/06/2019 12:42

** RMR Group Inc  RMR.O  shares down 3.1% to $40.85
premarket after real estate asset management firm prices
secondary offering
    ** Stock could open at lowest levels since Jan 2017 if
losses hold
    ** Office Properties Income Trust  OPI.O , Senior Housing
Properties Trust  SNH.O  and Hospitality Properties Trust
 HPT.O  divest their remaining stakes by selling combined ~7.9
mln shares in offering priced at $40, ~5% discount to RMR close
on Weds  urn:newsml:reuters.com:*:nBw3Ynlfya
    ** RMR shares slumped 17% since offering launched on Jun 17;
deal more than doubles co's public float  urn:newsml:reuters.com:*:nL2N23O12Y
    ** Citigroup and Morgan Stanley led 9-firm underwriting
group
    ** RMR has fallen ~60% from Sept record highs

 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))