UPDATE 1-Teekay Tankers share offer priced at 8 pct discount
* To sell 7 mln class A shares at $9.80 apiece * Shares fall as much as 19 pct June 19 (Reuters) - Tanker shipping company Teekay Tankers Ltd (TNK.N) said its follow-on public offering of shares was priced at $9.80 apiece, an 8 percent discount to the stock's Thursday close.
Shares of the company fell as much as 19 percent to a low of $8.65 in morning trade Friday, before paring some losses to trade down $1.36 at $9.25. The stock was the highest percentage loser on the New York Stock Exchange.
On Thursday, the company said it would offer 7 million shares of its class A common stock to buy a 2003-built Suezmax tanker from its holding company Teekay Corp (TK.N) for $57 million and to repay a portion of its outstanding debt under a credit facility. [ID:nBNG447254] (Reporting by Adveith Nair in Bangalore; editing by Vinu Pilakkott)
