BUZZ-Cushman & Wakefield dips as PE firms to exit in secondary offering

Reuters05-20

** Cushman & Wakefield's shares down 1.3% at $11.57 early Mon after real estate services firm launches secondary offering

** CWK threatening to snap 7-session winning streak

** Co says funds affiliated with PE firms TPG and PAG Asia Capital to sell ~26.5 mln shares with JP Morgan as sole underwriter

** With the offering, PE firms TPG and PAG Asia would fully divest combined 11.6% stake, per SEC prospectus filing

** Co has ~229.1 mln shares outstanding for roughly $2.7 bln market cap

** With move on the session, CWK up ~7% YTD and up nearly 50% over the past 12 months

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@thomsonreuters.com lance.tupper@tr.com 1-646-279-6380))

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