JELD-WEN's stock sinks after largest shareholder plans to sell off its entire stake

Shares of JELD-WEN Holding Inc. sank 7.0% in premarket trading Monday after the building products company said its largest shareholder is selling off its entire stake, equating to about 15% of the shares outstanding, with the company planning to buying back close to half of the shares being sold. Based on Friday's stock closing price of $29.40, the offering would be valued at about $437.56 million. The price of the offering has not yet been determined. JELD-WEN said it will not receive any proceeds from the offering. The company said it plans to repurchase about $200 million of the offering. JELD-WEN's stock has gained 5.0% over the past three months, while the S&P 500 has advanced 7.1%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

JELD-WEN's stock sinks after largest shareholder plans to sell off its entire stake
Shares of JELD-WEN Holding Inc. sank 7.0% in premarket trading Monday after the building products company said its largest shareholder is selling off its entire stake, equating to about 15% of the shares outstanding, with the company planning to buying back close to half of the shares being sold. Based on Friday's stock closing price of $29.40, the offering would be valued at about $437.56 million. The price of the offering has not yet been determined. JELD-WEN said it will not receive any proceeds from the offering. The company said it plans to repurchase about $200 million of the offering. JELD-WEN's stock has gained 5.0% over the past three months, while the S&P 500 has advanced 7.1%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.