LyondellBasell Shares Priced at $61.50 in Apollo's Offer
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Shares of LyondellBasell Industries NV, the largest maker of polypropylene plastic, were priced at $61.50 in the latest sale by Apollo Global Management LLC, the company’s biggest investor.
Apollo’s public offering of 25 million shares were priced at a 1.3 discount to yesterday’s close, said Bobby Verrier, a trader at Zacks & Co. in Springfield, New Jersey. LyondellBasell won’t receive any proceeds from the offering being managed by Goldman Sachs Group Inc., the Rotterdam-based company said in a statement today.