Legence slips as Blackstone looks to cut stake in secondary offering
ReutersDec 9, 2025 10:57 PM
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
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