12:54 PM EDT, 07/29/2021 (MT Newswires) -- TechnipFMC (FTI) launched Thursday the private placement of 16 million Technip Energies (THNPY) shares through an accelerated bookbuild offering that will target eligible institutional investors.
The company said the offered shares represent about 9% of Technip Energies' outstanding share capital and that it would retain a direct stake of 22% in Technip Energies following the share sale, with a 60-day lock-up for the remaining shares.
The final terms are slated to be released by July 30 and the settlement is expected around Aug. 3, according to TechnipFMC. Technip Energies was spun off from TechnipFMC is February.
The stock was almost 1% higher in afternoon trading amid a broadly firmer market.
Price: 7.47, Change: +0.06, Percent Change: +0.74