SL Green slips after unveiling $400 mln stock offering

Sl Green Realty

21/11/2024 22:10

** Shares of SL Green Realty  SLG.N  down 1.5% to $78 in
extended trading as it looks to raise equity
** Manhattan office REIT commences $400 mln stock offering
    ** It plans to use net offering proceeds for general
purposes, including new debt and equity investment opportunities
and debt repayment
    ** Wells Fargo, J.P. Morgan, TD Securities, BMO and Deutsche
Bank jt bookrunners
** Co after the bell also says it closed on sale of an 11.0%
interest in One Vanderbilt Avenue to Japan's Mori Building Co.,
Ltd
    ** SLG shares on Thurs closed up 1.8% at $79.15. Stock up
75% YTD and has more than doubled over the past 12 months
** Co has 66.7 mln shares outstanding as of Nov 21, per latest
SEC filing, giving co market cap of ~$5.3 bln

 (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))