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PLG Platinum Group Metals Ltd New

1.38
0.00 (0.00%)
Pre Market
Last Updated: 12:00:06
Delayed by 15 minutes
Share Name Share Symbol Market Type
Platinum Group Metals Ltd New AMEX:PLG AMEX Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.38 10 12:00:06

Hertz, Kinder Morgan Among Companies Unveiling Share, Unit Offerings

11/12/2012 12:21am

Dow Jones News


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Hertz Global Holdings Inc. (HTZ) and Kinder Morgan Energy Partners L.P. (KMP) were among companies that unveiled share or unit offerings after hours.

Hertz said that its three biggest stockholders are selling 50 million shares. Funds affiliated with Clayton Dubilier & Rice Inc., Carlyle Group L.P. (CG) and Bank of America Corp.'s (BAC) Merrill Lynch recently held a 38% stake in the company, or around 160 million shares. After the offering, the funds will continue to hold a roughly 26% interest in the car rental company. Hertz won't receive any proceeds from the sale. Shares fell 2.9% after hours.

Kinder Morgan is offering 3.9 million units as it seeks to pay down commercial paper debt. The pipeline operator recently had around 246.1 million units outstanding. Units fell 2.5% after hours to $78.48.

Graphic Packaging Holding Co. (GPK) said certain shareholders, who weren't named, are offering 16.5 million shares. The paperboard packaging company won't receive any proceeds from the offering, and has agreed to buy back up to $300 million of the shares offered. The company recently had around 393.7 million shares outstanding, according to FactSet. Shares were off three cents in after-hours trading at $6.24.

Platinum Group Metals Ltd. (PLG, PTM.T) is offering shares to raise around 180 million Canadian dollars, or $182.3 million. The platinum mining company intends to use the proceeds for purposes including developing its WBJV Project 1 platinum mine and exploration and engineering at the Waterberg project. Shares closed Monday at 95 cents and were unchanged after hours.

Write to Kristin Jones at kristin.jones@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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