Expro slides as top holder to sell shares in secondary offering

Xpro India

12/01/2023 15:21

** Shares of Expro Group Holdings  XPRO.N  down 6.4% at
$17.27 after energy services provider announces secondary
offering
    ** Co, whose principal executive offices are located in
Houston, says Oak Hill Advisors to sell 7.25 mln shares
 urn:newsml:reuters.com:*:nBw38mp49a
    ** Investment manager and #1 holder Oak Hill owns ~29.3 mln
XPRO shares for ~27% stake. T. Rowe Price  TROW.O  next largest
investor with ~11% stake - Refinitiv data
    ** Goldman and J.P. Morgan jt bookrunners for offering,
slated to price Thurs after market close
    ** About 180k shares have traded so far on the session vs
stock's 50-DMA volume of roughly 514k - Refinitiv
    ** With move on Thurs, shares off ~5% to start 2023 but have
risen about 90% over the past 6 months
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))