BUZZ-Kodiak Gas Services slips as EQT exits

Reuters12-01
BUZZ-<a href="https://laohu8.com/S/KGS">Kodiak Gas</a> Services slips as EQT exits

** Kodiak Gas Services' KGS.N shares down 3.7% before the bell at $33.90 as EQT AB EQTAB.ST divests its remaining approx 11% stake

** Oil and gas compression services provider announces ~9.77 mln share secondary offering by the Swedish private equity firm

** Post-offering, EQT will not beneficially own any KGS shares and will no longer have the right to nominate members to co's board of directors

** Goldman Sachs sole underwriter for offering

** Last month, EQT sold 10 mln KGS shares in secondary offering priced at $33.60

** The Woodlands, Texas-based KGS has ~86.68 mln shares outstanding

** Through Fri close, KGS shares down ~14% YTD

** 12 of 13 analysts rate KGS "strong buy" or "buy", 1 rates "hold" and median PT is $44, per LSEG data

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

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

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