Vesta Announces Proposed Follow-On Offering Of 4M American Depositary Shares
Portfolio Pulse from Benzinga Newsdesk
Corporación Inmobiliaria Vesta, S.A.B. de C.V. (Vesta), listed as VTMX on the NYSE, has initiated an underwritten public offering of 4 million American Depositary Shares (ADS), which represent 40 million of its common shares. The offering is pursuant to a registration statement on Form F-1 with the SEC. The common shares are registered in Mexico's RNV, overseen by the CNBV. Barclays, BofA Securities, and Morgan Stanley are the global coordinators for the offering.
December 05, 2023 | 9:26 pm
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Vesta is offering 4 million ADS, which may dilute current shareholders' equity and could lead to short-term downward pressure on the stock price.
Public offerings often result in dilution of existing shareholders' equity, which can lead to a decrease in stock price in the short term as the market adjusts to the increased number of shares available. The impact is considered significant due to the size of the offering relative to the company's market capitalization.
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