TRW Secondary Stock Issue Launched

TRW Automotive Holdings (NYSE: TRW  ) is about to undergo a bit of a shift in its shareholder structure, if a secondary stock offering goes as planned. Two major shareholding groups, Automotive Investors, an affiliate of Blackstone Group, and "certain members" of TRW's management, are offering a combined 10.9 million shares in an underwritten secondary issue. Slightly more than 10.27 million of those shares belong to Automotive Investors, while the rest are in the hands of the management group.

In the press release announcing the news, TRW stressed that it will receive no proceeds from the offering, as it is not the selling party.

Citigroup is the sole-book running manager and underwriter of the issue.

At the moment, TRW has just more than 117 million shares outstanding, and its stock most recently closed at $72.43 per share.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2579895, ~/Articles/ArticleHandler.aspx, 4/20/2014 2:29:56 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement