Apax Partners plans to sell five million shares of common stock in Rue21 (Nasdaq: RUE), a Warrendale, Penn.-based youth clothing retailer, via a secondary public offering. Apax would still hold nine million shares following the offering, which represents more than a 37% ownership stake.
Rue21 went public last November at $19 per share, and closed trading yesterday at $27.93 per share. Apax did not sell any shares in the IPO. www.rue21.com