BUZZ-Kodiak Gas Services dips as PE firm EQT looks to cut stake

Reuters11-15
BUZZ-Kodiak Gas Services dips as PE firm EQT looks to cut stake

** Shares of gas compression firm Kodiak Gas Services KGS.N fall 1.1% to $35.40 after the bell

** KGS commences public offering of ~4.9 mln shares that are worth $173.8 mln based on the stock's last close

** All shares are being sold by Swedish private equity firm EQT AB

** KGS plans on purchasing $15 mln worth shares from EQT AB in a private transaction at the public offering price

** Share repurchase from EQT AB is dependent upon the closing of the public offering - KGS

** Barclays, Goldman Sachs and J.P. Morgan are the joint book-running managers for the Offering

** KGS has 87.6 mln outstanding shares for $3.13 bln market capitalization - LSEG

** As of last close, KGS shares up 78.3% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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