Legence slides after Blackstone slices stake in upsized secondary offering
ReutersDec 12, 2025 4:46 PM
Engineering and maintenance services provider Legence's LGN.O shares slide 8.1% to $42.08
LGN late Thursday announced pricing of upsized secondary offering of 8.4 million shares by alternative asset manager Blackstone BX.N at $45 apiece
Offering boosted from initial size of 7 million shares and priced at 1.7% discount to last close
Stock slipped 6.6% on Wednesday after LGN unveiled the stock offering
Goldman Sachs and Jefferies were joint lead book-running managers for offering
Blackstone-backed LGN went public in New York in September after $728 million IPO
12 of 13 brokerages rate the stock "buy" or higher and one "hold"; median PT $46 - data compiled by LSEG
As of last close, LGN up 63.6% since September debut
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