Opera shares are trading lower after the company announced a proposed secondary follow-on public offering of American Depository Shares.
Portfolio Pulse from Benzinga Newsdesk
Opera has announced a proposed secondary follow-on public offering of American Depository Shares, leading to a decrease in its share price.
September 28, 2023 | 2:37 pm
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Opera's announcement of a secondary follow-on public offering of American Depository Shares has led to a decrease in its share price.
The announcement of a secondary follow-on public offering often leads to a decrease in share price as it implies an increase in the number of shares available, potentially diluting the value of existing shares. This is likely the reason for the decrease in Opera's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100