Europe’s Stock Rally Fuels Up to $5 Billion of Share Sales in One Night
- Holders offloaded stakes in eight European firms on Tuesday
- EQT’s partners and management offer $2.94 billion of shares
Photographer: Alex Kraus/Bloomberg
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European stock prices trading near record highs drove companies and shareholders to cash in on as much as $5 billion of share offerings on Tuesday, with a $2.9 billion stake sale in private equity firm EQT AB leading the charge.
At least eight transactions hit traders screens after markets closed, with shareholders including KKR & Co. and Dongfeng Motor Group Co. selling stakes in everything from tech companies SoftwareOne Holding AG and TietoEVRY Oyj, automaker Stellantis NV, telecommunications firm Huber + Suhner AG, online retailer Asos Plc, automotive distributor Inchcape Plc and art supplier Fila SpA. A ninth deal saw human-resources services firm Adecco Group AG offer fresh stock.