04:49 PM EDT, 03/27/2024 (MT Newswires) -- TD Synnex ( SNX ) late Wednesday announced a proposed secondary offering of 9 million shares held by entities managed by affiliates of Apollo Global Management ( APO ) .

Underwriters will get a 30-day option to buy up to an additional 1.35 million shares from the selling shareholders, TD SYNNEX ( SNX ) said.

TD Synnex ( SNX ) won't receive any proceeds from the sale of the shares.

Also, TD Synnex ( SNX ) said authorized the purchase from the underwriters of 500,000 shares as part of the secondary public offering, provided the amount doesn't exceed $60 million.

The share repurchase is part of the company's stock buyback plan.

Shares of the company fell 4.3% in recent after-hours trading.

Price: 111.00, Change: -5.00, Percent Change: -4.31