Ovintiv Announces Secondary Offering of 15M Shares by a Selling Stockholder
Portfolio Pulse from Benzinga Newsdesk
Ovintiv Inc. announced that NMB Stock Trust intends to sell 15 million shares of the company's common stock. The sale will be conducted under the company's shelf registration statement previously filed with the Securities and Exchange Commission.
September 11, 2023 | 10:34 am
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NEGATIVE IMPACT
Ovintiv Inc.'s stock may experience volatility due to the planned sale of 15 million shares by NMB Stock Trust.
The sale of a large number of shares can often lead to increased volatility in the stock price. Investors may interpret the sale as a lack of confidence in the company's future prospects, which could put downward pressure on the stock price. However, the actual impact will depend on market conditions and investor sentiment at the time of the sale.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100