BUZZ-Globant's stock slides as WPP decides to exit

** Globant SA U.S.-listed shares drop >7 pct as WPP (Swiss: OXWPP.SW - news) PLC looks to divest its remaining stake in the software services provider

** GLOB shares recently down 6.3 pct at $53.40 and on course for biggest one-day pct fall since Aug; have traded 2.5x their 30-DMA volume

** Luxembourg-based Globant and the advertising giant WPP announced secondary offering of 5.8 mln shares early Weds

** Goldman Sachs (NYSE: GS-PB - news) and JP Morgan acting as joint bookrunners for offering, which is slated to price after today's market close

** WPP (Frankfurt: A1J2BZ - news) would sell its remaining 18.7 pct Globant stake if underwriters exercise full overallotment option

** Secondary represents more than 3 weeks of trading volume

** GLOB notched record high close of $57 this week, having gained 20 pct since May 10 after co posted Q1 beat

** Globant went public in Jul 2014 at $10/sh

** Meanwhile, WPP's new boss flags need for radical change following departure of its founder and CEO Martin Sorrell