NEW YORK (TheStreet) -- Continental Building Products (CBPX) shares are up 8.2% to $16.40 in trading on Thursday after the gypsum wallboard and complementary finishing products manufacturer priced its secondary offering today.
The Herndon, VA-based company priced 7 million shares of common stock at $14.75 per share.
All of the available shares will be sold by the company's largest stake holder, Lone Star Funds, and the company will not receive any proceeds from the offering, which will close on November 25.
Citigroup (C) , Credit Suisse (CS) , RBC Capital Markets, Barclays (BCS) and Deutsche Bank (DB) will act as joint book-running managers for the offering.
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