BUZZ-Legence slips as Blackstone looks to cut stake in secondary offering

Reuters12-10
BUZZ-Legence slips as <a href="https://laohu8.com/S/BX">Blackstone</a> looks to cut stake in secondary offering 

** Engineering and maintenance services provider Legence's LGN.O shares down 4.4% at $46.35 in extended trading

** LGN announces launch of secondary offering of 7 million shares by alternative asset manager Blackstone BX.N

** Goldman Sachs and Jefferies are acting as joint lead book-running managers and Blackstone Capital Markets is acting as a co-manager for offering

** Blackstone-backed LGN went public in New York in September after $728 million IPO

** LGN has 105.3 million outstanding shares, according to offering prospectus

** 14 of 15 brokerages rate the stock "buy" or higher and one "hold"; median PT $46 - data compiled by LSEG

** As of last close, LGN stock up 73% since September debut

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))

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