Opera Reports Proposed Secondary Follow-On Public Offering Of 6.87M American Depositary Shares
Portfolio Pulse from Benzinga Newsdesk
Opera Limited has announced a proposed secondary follow-on public offering of 6.87 million American Depositary Shares (ADS).
September 27, 2023 | 8:07 pm
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Opera Limited's proposed secondary follow-on public offering of 6.87M ADS could dilute existing shareholders' equity.
The proposed secondary follow-on public offering of 6.87M ADS by Opera Limited could lead to dilution of existing shareholders' equity. This is because the number of shares outstanding will increase, potentially reducing the value of existing shares. Therefore, this news could have a negative impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
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