DETROIT -- TRW Automotive Holdings Corp. is planning to sell 7.5 million shares of its common stock in a secondary public stock offering on the New York Stock Exchange.
TRW will not receive any proceeds related to the offering it announced in a statement on Thursday.
The stock is held by Automotive Investors LLC, an affiliate of New York-based Blackstone Group LP. The private equity firm acquired TRW in 2003 for $4.7 billion, before taking the company public in February 2004.
The suburban Detroit supplier of automotive safety systems posted its third-straight quarter in the black last month due to improved global vehicle production. TRW posted net income of $227 million on revenue of $3.7 billion in the second quarter of 2010.
TRW's full-year revenue forecast is projected between $13.2 billion and $13.6 billion, up from $11.6 billion in 2009.
The supplier's stock closed today at $34.96 a share, down $1.90 or 5.1percent.
TRW ranks No.11 on the Automotive News list of the top 100 global suppliers with worldwide sales to automakers of $11.60 billion during its last fiscal year.