Legend Biotech Corp Files For Stock Shelf Of 8.83M Ordinary Shares Represented By 4.42M ADS By Selling Shareholders
Portfolio Pulse from Happy Mohamed
Legend Biotech Corp has filed for a stock shelf of 8.83 million ordinary shares, represented by 4.42 million American Depositary Shares (ADS), to be sold by existing shareholders, according to a SEC filing.
May 26, 2023 | 1:13 pm
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Legend Biotech's stock shelf filing for 8.83M ordinary shares (4.42M ADS) may lead to short-term selling pressure on the stock.
The stock shelf filing indicates that existing shareholders are looking to sell a significant number of shares, which could lead to an increase in supply and potentially put downward pressure on the stock price in the short term. This is relevant and important for investors to consider as it may impact the stock's performance.
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IMPORTANCE 75
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