By Dow Jones Business News, March 04, 2013, 07:28:00 PM EDT
Five companies launched secondary offerings after hours on Monday, sending shares lower.
Trulia Inc. ( TRLA ) plans to sell around $100 million of its shares, expecting to use the proceeds to make acquisitions
or investments, and for other general purposes. The real-estate listing service recently had a market capitalization of
around $766 million. The stock was down 5.4% at $26.50 after hours.
Energy company Williams Partners L.P. ( WPZ ) plans to offer 10 million units representing limited-partner interests. At
the same time, the company will sell three million units to affiliate Williams Cos. ( WMB ) in a private placement.
Williams Partners expects to have 411 million units outstanding after the offering, and plans to use the proceeds to pay
down debt. Shares dropped 3.2% to $48.93 after hours.
Jazz Pharmaceuticals PLC ( JAZZ ) said that certain shareholders plan to offer almost 5.4 million shares. The
biopharmaceutical company won't receive any proceeds from the sale, and its total number of shares outstanding--roughly
57.9 million shares as of early November--won't change. Shares fell 2.3% to $58.61 after hours.
First Industrial Realty Trust Inc. ( FR ) has launched an offering of 8.4 million shares, intending to use the proceeds
to pay down debt, acquire property or for other general purposes. The real-estate investment trust had around 91.5
million shares outstanding as of late December. Shares fell 2.1% in after-hours trading to $16.
MRC Global Inc. ( MRC ) said that its biggest stockholder, PVF Holdings LLC, has launched an offering of 17 million
shares. The sale will reduce PVF's stake in the company to around 38%, from 55%. MRC Global had 101.6 million shares
outstanding as of Feb. 27. The company, which distributes pipes, valves and fittings to the energy and industrial
sectors, won't receive any proceeds from the sale. Shares were off 1.9% at $29.73 after hours.
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