United Airlines announces stock offering, shares slip

(Reuters) – United Airlines Holdings Inc on Tuesday announced a stock offering of 39.25 million shares, sending its shares down 3% in extended trading.

The company intends to use the proceeds from the offering towards general corporate purposes, it said.

The underwriters to the offering, Morgan Stanley and Barclays, have access to an additional 3.93 million shares.

The company’s shares closed at $27.88 on Tuesday.

(Reporting by Bharath Manjesh in Bengaluru; Editing by Maju Samuel)