TD Synnex dips as Apollo makes quick exit

TD Synnex

04/04/2024 21:42

** TD Synnex Corp's  SNX.N  shares down 1.1% at $116
post-market after IT solutions firm launches secondary offering
    ** Co says Apollo Global Management  APO.N  to sell
remaining ~5.3 mln shares held
    ** In addition, SNX to repurchase 1.75 mln of offering
shares from underwriters under its existing buyback program
    ** SNX has ~87.15 mln shares outstanding, per the SEC
prospectus filing
    ** Last week Apollo more than halved its stake in 10.5 mln
share secondary offering priced at $109
    ** JP Morgan, Citigroup, Goldman, Mizuho and RBC are jt
bookrunners for this latest offering
    ** SNX's stock up ~9% YTD

 (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))