GFL Environmental ticks higher after upsized $900 mln secondary offering

U.S.-listed shares of Canada's GFL Environmental GFL.N up 0.2% to $48.70 on very light premarket trading volume after secondary offering prices

Waste management firm early Weds announces Ontario Teachers' Pension Plan, Singapore's sovereign wealth fund GIC (connected to GFL Borrower II), Poole Private Capital and HPS Investment Partners offloaded ~18.9 mln shares

Offering, boosted from ~15.7 mln shares, priced at $47.65 for deal size of $900 mln

Offering price represents 2% discount to stock's record high close of $48.62 on Tues

,Also, co late Tues said it bought back ~17.1 mln shares from BC Partners at $46.92, and that it agreed to purchase ~7.1 mln shares of the secondary offering from RBC, the underwriter

Prior to the transactions, BC Partners is top holder with ~43.56 mln shares, or 11.4% stake, followed by Ontario Teachers' with ~35.36 mln shares, or ~9.3% stake, per LSEG data

GFL has ~393.38 mln shares outstanding for market value of $19 bln

Through Tues, shares up ~9% YTD and up ~40% over the past 12 months