LyondellBasell announces shareholder sale of 20 million shares

LyondellBasell today announced the sale of 20 million of its ordinary shares by certain shareholders affiliated to Apollo Management Holdings, in an underwritten public offering.

The selling shareholders will agree to a lock-up of their ordinary shares (subject to certain exceptions) for a period of 30 days after the date of the prospectus supplement for the offering.

LyondellBasell said it will not receive any proceeds from the offering. The total number of LyondellBasell ordinary shares outstanding will also not change as a result of the offering, a company release said.

Deutsche Bank Securities is acting as the sole underwriter for the offering.

LyondellBasell said it had earlier filed an automatic shelf registration statement relating to the company's ordinary shares with the Securities and Exchange Commission (SEC) that became effective upon filing.