TD Synnex edges down as Apollo speeds exit

TD Synnex

05/04/2024 14:27

** Shares of TD Synnex  SNX.N  down 0.9% at $116.25
premarket after IT solutions firm's secondary offering priced
    ** Co late Thurs announced Apollo Global Management  APO.N 
sold ~5.3 mln shares, or remaining 6.1% stake
    ** Offering priced at $115, 1.9% discount to stock's last
close, per market sources
    ** 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))