By Chris Wack

GrafTech International Ltd. said an affiliate of Brookfield Asset Management Inc. and Brookfield Business Partners LP, members of the Brookfield consortium that has an existing ownership interest in GrafTech, intends to offer 20 million shares of GrafTech common stock in an underwritten secondary offering.

The company said the selling stockholder will receive all of the proceeds from the offering. GrafTech isn't offering any shares of common stock in the offering.

The underwriter will offer the shares from time to time for sale through negotiated transactions or otherwise, at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices.

J.P. Morgan Securities LLC is acting as the sole underwriter for the offering.

GrafTech shares were down 6% to $13.07 in premarket trading.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

05-25-21 0834ET